Industry News March 17 2020

The Coronavirus & Your Finances

At Eagle Home Mortgage, we know that the effect of the Coronavirus is an unprecedented situation. Among the areas of concern caused by the COVID-19 virus, financial security is front-of-mind for many. In fact, Americans are more worried about finances than their health amid coronavirus outbreak, according to a USA Today poll. It’s important in these times to remember that history repeats itself- this is not the first market dip we’ve experienced, we will recover. In the meantime, here are a few best practices to protect your finances amidst the uncertainty.

Buy What You Need

We understand paychecks might be few and far between for some. That’s why it’s important to stock up on what you need, without going overboard. At this point, most of us have heard of or witnessed grocery store-goers fighting over rolls of toilet paper. While stocking up is smart, ask yourself what you will really need for up to a month. If you won’t use 48 rolls of toilet paper in that time, refrain from throwing an excess of groceries on a credit card, only to have to deal with that debt later.

Trim What You Don’t Need

As long as social distancing is being recommended, try to use some of the money you’d be spending on traveling or dining out to build up your emergency fund. Four in 10 Americans say they’d struggle to come up with $400 in a pinch. If you don’t feel you’ve saved up a comfortable amount, see where you can cut costs now. If you are able, start putting away a little extra so you can begin to feel more secure about your savings.

Take Advantage of Low Interest Rates

Mortgage rates have plunged during the coronavirus outbreak, resulting in some of the lowest borrowing costs in history. If we look for a silver lining, now is the time for homeowners to jump at the chance to refinance their homes. The Mortgage Bankers Association forecasts total mortgage originations to come in around $2.61 trillion this year - a 20.3 percent gain from 2019's volume.

Talk to EagleHM about refinancing your home today. Our cutting-edge Digital Mortgage process will help support social distancing.

Watch out for Scammers

The Federal Trade Commission says  scammers are on the rise. This includes emails claiming that companies have developed cures or treatments for coronavirus, asking you to invest in these phony cures. “Fake charities” are contacting people and soliciting to provide “relief” to coronavirus victims. We support giving! Just make sure you give to charities you know during these trying times.

Don’t Panic, America is Stepping Up

A lot of companies are stepping up and offering free services, take advantage of them! This isn’t the first financial crisis the country has seen. It’s best not to panic and instead, have a financial plan to help you navigate an uncertain economy. Stay healthy- practice social distancing and wash your hands. We will all get through this together! Don’t go it alone- Eagle Home Mortgage is your homebuying partner during and after challenging times.

 

Search Results for query

August 03 2020

Laura Escobar Named 2020 Woman of Influence

Eagle Home Mortgage President Laura Escobar has been named one of HousingWire’s Women of Influence 2020.

Read More

July 28 2020

6 Surprising Ways to Spend Smarter for Back to School

This year, many of us have a different picture of back to school shopping. With some savvy financial planning, you can keep expenses in check and still help your kids be ready to learn.

Read More

July 21 2020

Plan Ahead When Buying Your Next Home

Thinking ahead will ensure your next home is one you can enjoy for years to come.

Read More

July 14 2020

Stop Making Your Landlord Rich!

Many renters don’t know how easy it may be to purchase a new home, nor realize their mortgage payments could actually be equal (or less) than what they’re spending monthly in rent.

Read More

July 07 2020

Start the Mortgage Process Early & Reduce Stress

Just because your home is not finished being built, doesn’t mean you should leave the mortgage process for the last minute.

Read More

June 30 2020

10 Space Saving Tips For Your Home

Make the most of your square footage and make your home feel larger with these space saving tips.

Read More

June 23 2020

What is a Jumbo Loan?

A Jumbo loan is a home loan for those who have higher lending needs than conforming conventional loan types can meet.

Read More

June 09 2020

8 Things to Know About Your Home

Check out our money saving tips and tricks to maintaining a happy home and wallet!

Read More

June 04 2020

DIY Summer Crafts for Kids

Looking for some activities to keep the kids busy this summer? Here are some DIY summer craft ideas!

Read More

12345Last

Mortgage Calculators

Crunch the Numbers With Our Helpful Mortgage Calculators

Payment Calculator

payment calculator

Payment
Calculator

Affordability Calculator

affordability calculator

Affordability
Calculator

Refinance Calculator

refinance calculator

Refinance
Calculator

The Modern Digital Mortgage with a Personal Touch

Paperless. Effortless. Awesomeness TM

Simplify the home financing process with our Digital Mortgage. We'll be here to help navigate you through the entire process.

Get Pre-qualifiedWhat is a Digital Mortgage?