Home Buying Process During COVID19
The past few months have been quite exceptional for everyone, we are living in extraordinary times as a consequence of the global pandemic caused by COVID19.
In order to stop the spread, the government has been forced to implement safety measurements like social distancing. Millions of Canadians in the non-essential workforce are now working from home and abstaining from visiting businesses and other public places.
Homebuyers are left feeling confused and wondering how home buying process works due to this situation.
We at the Canadian Mortgage App are here to answer some of the questions you might have as a homebuyer and guide you through the home buying process during COVID19.
Can I still sell or buy a Home During Covid19?
This is probably the first question you would be asking yourself, and the answer is yes. There are currently no restrictions that will prevent you from either selling or buying a property.
Home Buying Process During COVID19
If you are looking to purchase or sell a home during the COVID19 pandemic, you might be wondering what has changed:
- You can still view properties, Realtors are setting up virtual tours of properties that allow you to tour many houses.
- You can also get pre-qualified and apply for a mortgage using your phone from the comfort and safety of your own couch.
This change on the home buying process is actually an advantage for buyers, as it gives you the opportunity to view more properties in less time without the worry of travelling all around. You’ll have the opportunity of finding your dream home, saving time in the process and access to the best mortgage rates that fit your needs.
Virtual Tours, visit as many Houses as you want from your Couch
Success comes from adapting to the situation during difficult times. Thanks to technologies and new ways of communications, Realtors are also adapting to show properties such as houses, condos and apartments during the pandemic.
This isn’t something new, some Real Estate companies have done video visits in the past for Homebuyers who lived in different cities, provinces and countries. However this situation with the coronavirus is prompting a major change towards moving business online.
The most common practises that Realtors are using from a distance are: conducting video visits of the property, recording video tours and showing the unit live via Facetime.
If you are a potential Homebuyer and you’d rather visit the property in person before making a decision, don’t worry. Some Realtors are doing home tours following the CDC’s strict health and safety guidelines (using masks, gloves and taking other safety measures).
Get Pre-Qualified from your phone
Let us do all the hard work for you! In order to know how much house you can afford, you need to get pre-qualified first.
The Pre-Qualification Process is usually time consuming. When you want to get pre-approved, you go to a bank or lender where they offer you 2-3 different options.
If you don’t get pre-approved, or if none of the options suit your needs, you would have to go to a different bank or lender and start the process all over again. This is both time and energy consuming and an unnecessary way to put yourself at risk during COVID19.
Don’t worry! Canadian Mortgage App is here to help you find the right Mortgage Professional that will fit your needs better.
Imagine being able to get pre-qualified on your phone, completely confidential, fast, easy, and completely safe from the comfort of your home.
And what is even better! You would be able to access not just one lender at a time but over 40% of Mortgage Brokers in Canada.
We want to show how easy, fast and reliable it could be using Canadian Mortgage App. But first, you have to Download the free app in order to follow the step by step pre-qualification process.
Follow a super simple 10 step process and input information such as:
- City where you are planning to buy and type of Property (Condo or House).
- Are you planning to rent it out?
- Down Payment amount.
- Outstanding balances, or loans.
- Employment Status and household income.
- And finally your Credit Score.
“Remember all the information will remain confidential”
2-Book a Free Call
In less than 5 minutes you will be pre-qualified, you will be able to know:
- What your maximum purchase price is.
- Your mortgage payment amount.
- A sample report with detailed information about your pre-qualification.
Are you already Pre-Qualified? Get in contact with a Mortgage Broker Today
Difficult times are coming ahead but you’re not alone, together we’ll get through this. We will keep working on the development of new features that make the home buying process easier, simpler and faster.
We want to finish off by showing our appreciation for all the frontline workers that have been working hard to keep Canadians safe, healthy and fed. On behalf of the Canadian Mortgage App, Thank you.