Coronavirus Mortgage Rates May Sell My Home
Watching them drop to 3% or less, I’m thinking that Coronavirus mortgage interest rates may sell my home. Low mortgage rates tend to boost home sales because buyers can afford more costly homes than they might be able to afford with higher interest rates. So, it’s possible that my home for sale will attract more buyers as a result of the low interest rates.
Although there is no direct connection between the Covid19 pandemic and the currently low interest rates, both situations are happening at the same time, creating a connection in some buyers’ minds. I am looking around at all the economic factors before I list and sell my home now.
Low mortgage interest rates do not change the fact that buyers who apply for loans must go through a series of steps in order to qualify as a borrower on any particular house. Both the financial history of the borrower and the professional appraisal of the home are factors in a lender’s decision whether or not to make the loan.
Selling My Home to a Cash Buyer
This is a good time to get a new home mortgage or to refinance, but it may not be a good time for me to wait around for a motivated buyer to fall in love with my house and then apply for a mortgage loan to purchase it. There’s no telling how long it would take for the right buyer to make an offer, but it’s safe to make an assumption about a mortgage loan. It can easily take a month for buyer loan approval on any house for sale.
Cash buyers do not need loan approval because they are not borrowing money. Finding a buyer who does not need to borrow money would be ideal for me to sell my home.
We Pay Fast is a team of professional home buyers who pay cash for homes, having no need for mortgage loan approval. They are in the day-to-day business of purchasing homes in cities around the country, including mine.
Call We Pay Fast at 405-521-1807 or email [email protected] to speak to a professional home buyer who pays cash and closes fast, usually within a week to ten days from making arrangements and signing a purchase agreement.