A Whole Team is Behind You
The past couple of weeks have brought a lot of change, but we’re doing everything possible to provide constant support to our clients during this time. If you are a buyer working with us or considering to buy, we want to share the latest information we have from our HomeSuite team.
Our one-stop shop of mortgage, title and insurance is continuing to operate, which allows you and us to get your transaction done efficiently, conveniently and successfully.
Here’s a quick update from each of our real estate services:
Mortgage
At John Adams and Front Street, we are being as accommodating as possible for our agents and our borrowers. We are continuing to take online applications to practice social distancing. In the event that a client is being temporarily laid off due to COVID-19, we can be flexible in the ability to close that loan. If a closing is delayed due to unforeseen circumstances, we will waive extension fees whenever needed.
We are working closely with our affiliated title company, Capital Title, to start offering Hybrid E-Closings. Please read further to learn more about this process. We’re here and making it happen for you!
Despite the impact of COVID-19, the current interest rates still make it a great time to buy (or sell, too). On Sunday night (2/15/2020), the Fed reduced short term rates to almost zero. This means home equity lines of credit, car loans and some credit card debt will see lower interest rates. Long term rates (30, 20, 15 and 10 year rates) are not directly affected by this.
The Fed also agreed to purchase Mortgage Backed Securities. Because of this, chances are long term rates will stay closer to the low end for a longer period of time. We can’t predict what the rates will do on a daily basis, but they are likely to move up and down based on world news, economic data, jobs, etc.
Title
Homebuyers have been taking advantage of our “Hybrid E-closings” at Capital Title. In this process, 95% of the closing documents are completed from an electronic platform. You’ll only need to come into an office to sign 3-4 documents that need to be notarized.
When you are coming into our closing rooms, we are following safety protocols provided by medical professionals (yep, the ones you’ve probably read over and over by now). Plus, you’ll get to keep the pen that you used to sign your (3-4) closing documents!
We already offer Hybrid E-Closings, so this is likely the way you’ll close if you are buying at this time.
Insurance
Fortunately, the recent world events haven’t changed anything on the insurance side of business. Our Insurance One team is ready and able to quote for you and even possibly help you save some money during this time, too.
We have the ability to issue applications via e-signature. As of now, insurance carriers are still operating and our entire Insurance One team is in action (while taking every precautionary measure to stay healthy).
You know how getting new insurance quotes is always that “to-do” you can never get to? Well, now’s the time! We’re happy to have a quick conversation with you. We’ll quote across seven different carriers at once, so you’ll know you’re getting the best deal on homeowners, auto, life, business… whatever you may be needing.