Amrita   Bedi

Amrita Bedi


Tropic Shores Realty

352 597 8342
Email Me

Coronavirus and Real Estate

There are so many ways that this pandemic can affect home buying activity in the US. Home buyers need a mortgage to make their purchase. However with the added uncertainity of the ways that this is going to impact  the econmomy lenders can add additional requirements to qualify for a loan...these additonal requirements will protect the lender, but may leave many prospective homeowners unable to qualify for a loan. The additional requirement are called "overlays". What "overlays" basically mean is that let's say you applied for an FHA loan and the FHA guide line sets a minimum credit score... the lender can ask for a higher credit score or a lower debt to income ratio or increase the qualifying time with current employer.

Here is a link  to the sate of the Florida housing market in Feburary of 2020

Next month's numbers will most likely be lower.

Have Questions?