COVID-19 Resource Center

HomeLend is closely monitoring the changes COVID-19 has had on the mortgage industry, and how it affects you. We proactively take actions to ensure all our processes and procedures are inline with these changing standards and guidelines. If you have any concerns about how COVID-19 may impact your mortgage eligibility, please feel free to discuss them with us.

Our Digital Mortgage team is prepared to keep supporting your personal finance goals during COVID-19 . We’ve answered your most pressing questions and provided additional information for you.

Mortgage Relief Options

What If I’m Having Trouble Paying My Mortgage?

Mortgage companies that service government-backed loans are allowed to suspend your mortgage payments if you are dealing with COVID19-related financial hardships. In other words, we can offer you a forbearance to put a temporary hold on your payments.

What Is A Forbearance?

A forbearance is offered for people who are struggling to make mortgage payments during the pandemic. During this period, you are not expected to make payments, there will be no late charges, and your credit will not be impacted. You are still able to make payments during this period if you want, but you are certainly not required to.

Once your forbearance period ends, you will once again be responsible for all the payments that were on hold during that time.

If we are still servicing your loan and you would like to request a forbearance, you can contact us at 866-594-5684 or email  servicing@kwikmtg.com.

If you are already working with your new loan servicer, you will need to contact them directly.

Frequently Asked Questions

CAN I STILL GET A MORTGAGE IF I LOST MY JOB DUE TO COVID-19?

It’s not likely. Part of the qualifications for a new mortgage include having up-to-date income records, so if your income has been drastically reduced or lost altogether, it will make it more difficult to qualify.

WHAT IF MY SPOUSE HAS LOST THEIR JOB DUE TO COVID-19?

If your spouse is unemployed, it could make it more difficult for you to qualify for a loan. However, if you can qualify on your income and credit alone, it can be worth contacting one of our expert loan originators for a quote.

IS NOW STILL A GOOD TIME TO REFINANCE?

It certainly can be! rates are trending low, but with such uncertainty, its easier for borrowers with a stronger credit profile to qualify. It also depends on your financial situation if it even makes sense for you to seek out a refinance. Now is a good time to take stock of your finances and give us a call to discuss your options.

WILL I STILL BE ABLE TO CLOSE ON TIME?

Most likely! Our process is entirely digital, so we haven’t been bogged down by increased volume and limited access to our office. Social distancing hasn’t impactd much of our normal process, so we are chugging along full steam ahead!

IS THE IN-PERSON CLOSING PROCESS SAFE?

Your safety is our priority for any in-person contact. People involved in your closing will come decked out in appropriate face and hand coverings and be practicing social distancing.  The CDC advises that anyone who has travelled outside of the country or feels sick does not attend closing.

CAN I STILL GET AN APPRAISAL DURING SOCIAL DISTANCING?

Appraisers and inspectors are still allowed to come into your home to do their jobs but with added precautions: wearing a mask, using gloves, and remaining 6ft away from others. Right now, Fannie and Freddie are more lenient in allowing exterior appraisals or Automated Value Modeling if necessary.

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