COVID-19 Info Center

We are closely monitoring the changes COVID-19 has had on the mortgage industry, and how it affects you, our customer. We proactively take actions to ensure all our processes and procedures are inline with these changing standards and guidelines. If you have any concerns about how COVID-19 may impact your mortgage eligibility, please feel free to discuss them with us.

We are here to continue providing you with excellent service, affordable rates, and essential information during these uncertain and challenging times.

Mortgage Relief

Struggling to Make Mortgage Payments?

Don’t worry, you are entitled to some financial relief. According to the CARES Act, mortgage companies that service government-backed loans – like us – can offer to suspend your mortgage payments if you are dealing with COVID19-related financial hardships.

In other words, we can offer you a forbearance to put a temporary hold on your payments.

What is Forbearance?

A forbearance is offered to borrowers that are struggling to make mortgage payments during the pandemic. During a forbearance period, you are not expected to make payments, there will be no late charges, and your credit will not be impacted. You are still able to make any payments during this period if you so choose, but it is absolutely not required. Once your forbearance period has ended, you will be responsible for all payments that were due during that time.

If we are currently servicing your loan and you wish to request a forbearance, you can contact us by calling 866-594-5684 or by emailing servicing@kwikmtg.com. 

If you have been paying your mortgage to your new servicer, you will need to contact them for a forbearance request.

Frequently Asked Questions

Applying for a mortgage after losing my job

It’s not likely that you will still be able to qualify for a mortgage after losing your job. Part of the requirements for qualifying is having up-to-date income records. If your income has changed drastically or stopped altogether, it will be more difficult for you to qualify.

Applying for a mortgage after my spouse became unemployed

If your spouse is unemployed, it could make it more difficult to qualify for a loan. However, if you can qualify on your income and credit alone, it can be worth contacting one of our expert Loan Originators and asking for your options.

Getting an Appraisal or Inspection During COVID-19

It depends on the company, but appraisers and inspectors are still allowed to come to your home to do their jobs but with some added precautions: wearing a mask, using gloves, and remaining six feet apart. Additionally, Fannie and Freddie are more lenient by allowing exterior appraisals or Automated Value Modeling (AVM). 

Closing on My Mortgage During COVID-19

Our process is entirely digital, so we haven’t been bogged down by increased volume, and social distancing hasn’t impacted much of our process. We are able to close your mortgage on time as promised.

Your safety is our priority for any in-person contact. People involved in your closing will be wearing appropriate PPE (I.e. masks, gloves, hand sanitizer) and practice social distancing.    The CDC recommends that anyone who has travelled and/or feels sick does not attend closing.

Is Now Still A Good Time to Buy or Refinance?

It’s not likely that you will still be able to qualify for a mortgage after losing your job. Part of the requirements for qualifying is having up-to-date income records. If your income has changed drastically or stopped altogether, it will be more difficult for you to qualify.

Latest News

We keep this page updated with the most recent mortgage-related news during the pandemic.

Closing on a Mortgage during COVID-19

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The Fed’s Mortgage Backed Securities

With all the COVID-19 pandemic, there isn’t enough money in the market right now. To remedy this, the […]

The Fed’s Rate Cuts and Mortgage Rates

The Federal Reserve (Fed) has issued an emergency rate cut to try to maintain economic stability in […]

We are here for you during these uncertain times. To learn about your mortgage relief options, please visit our COVID-19 Info Center.