Tag Archive for: laid off

Qualifying After Returning to Work

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Many people are wondering how soon laid off and furloughed borrowers will qualify for mortgage financing once they return to work. EMPLOYMENT GAP UNDER SIX MONTHS If the layoff or furlough lasts less than six months, lenders will be able to fund most loans as soon as borrowers return to work (for conforming, FHA and […]Read More

COVID-19 Mortgage Updates; Interest Rates; Jumbo; Guidelines; Appraisals

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Below are a series of important COVID-19 updates as they relate to the mortgage industry. INTEREST RATES Jumbo interest rates are now about 1% higher than conforming rates. This is in sharp contrast to the previous few years when jumbo rates were almost always lower than conforming rates for strong borrowers. Low balance (under $510,400) […]Read More