Tag Archives: rachel

COMMON MORTGAGE MYTHS

Common Mortgage Myths

For most people across North America, buying a home or property with cash is not possible. Because of this, banks and other lenders offer mortgage loans to those that qualify. A mortgage loan isn’t a bad thing; it’s a way for many people to be able to own a home. As with any popular subject, there are some common myths surrounding mortgage loans. While not every buyer will need a mortgage, it’s important to discern the myths from the facts when it comes to modern mortgage loans.

Twenty Percent Down Payment

This is one of the most popular myths surrounding mortgage loans, and it’s also one of the most outdated. While it may have been a requirement many years ago, a buyer does not need to have 20 percent of a home’s purchase price in order to qualify for a loan. While it may be financially better to put down 20 percent, there are a number of different loans and options that allow potential buyers to get a mortgage with less than 20 percent down. In the U.S., an FHA mortgage for first-time buyers requires a minimum 3.5 percent down; VA mortgages allow for zero down; USDA home loans require nothing down; and a number of other programs allow buyers to put anything from 3 to 10 percent down. If you’re thinking of buying a home and you know you’ll need a mortgage loan, don’t be fooled by the 20 percent myth: there are many mortgage options available to buyers today.

Prequalifying Guarantees A Loan

It may seem like, with the steps you go through to get pre-qualified, a mortgage loan will be a sure thing. But that’s not the case. Prequalification is not preapproval. Prequalification is the initial step in the mortgage process, and while an important step as it can provide an idea of a potential mortgage loan amount, it is not the actual approval. Prequalification generally only uses basic financial information and is not a guarantee of a loan. Preapproval is a more thorough process that generally involves looking at your financial statements and credit report. Before you begin your home search, get preapproved to ensure you’re looking at properties that fall within your budget.

Need Excellent Credit

There are a number of factors that go into mortgage approval, and while creditworthiness and debt-to-income ratio are both considered, you do not need to be ‘excellent’ in either of these areas in order to get a mortgage loan. The minimum credit score necessary for a conventional loan in the US is 620; for a traditional mortgage in Canada, it’s 680. As for debt-to-income (DTI) ratio: while it’s best to have as little debt as possible when looking to purchase a home, Fannie Mae and Freddie Mac (government-sponsored agencies that publish standards for conventional mortgage approval in the U.S.) have the maximum allowable DTI at 50 percent, meaning those with current debt are not at a loss when it comes to qualifying for a mortgage loan.

Only Get The Advertised Rate

It’s often said if it’s too good to be true, it generally is. The same can be said for mortgage interest rates. When looking for a loan, interest rates will be listed online, in newspapers, and wherever else lenders advertise. Those advertised rates will be appealing to buyers, but the reality is that most of the time advertised interest rates are only reserved for those who have a perfect credit score, have an incredible debt-to-income ratio, and are likely putting down a very large down payment. Interest rates are influenced by a number of factors, which of course aren’t included in the advertisement (just in the incredibly small fine print); because of this, go into the mortgage loan process with the understanding that you may not receive the advertised interest rate.

Down Payment Covers Closing Costs

When buying a home with a mortgage, there’s always talk of a ‘down payment,’ which for most buyers is a large chunk of money paid up front and ultimately lowers the final amount of a mortgage loan. But while this IS a large payment, it does not cover closing costs. Closing costs are the processing fees paid to the lender in exchange for creating and finalizing the loan. They are due when you close on the loan, but they are separate and independent of the down payment. Closing costs can range from 2% to 6% of the total loan balance. Buyers do have the option of negotiating with the seller on covering closing costs, but it’s never a guarantee and some locales limit the amount the seller can contribute. As you’re looking for homes and understanding the mortgage process, remember to account for closing costs in your calculations. Mortgage loans can be confusing and intimidating, especially with the number of myths out there about them. If you still have questions, your agent can help or refer you to someone with more knowledge – they may even have a lender they’ve worked with and recommend. Buying a home with a mortgage loan is still widely popular throughout North America – don’t let the myths fool you out of achieving the goal of home ownership.

It’s a New Year, and homes and properties are available all over North America. You can check out the local real estate market at my website. If you’re thinking about buying or selling this year, don’t hesitate to contact me with your questions.

IT’S A GOOD LIFE!!

Five Star award Winner 2011- 2022 honoring the top 4% of real estate professionals in Oregon.

Rachel Sheller, Realtor, LUXE Listing Specialist, CRS, ABR, SRS, GRI, SRES, RENE, Diversity Specialist-HOWNW, Earth Advantage Broker, MASTERS CIRCLE-Diamond-Platinum, CSA-Certified Staging Agent

Octavian Group, Oregon First-Principal Broker, Washington First-Managing Broker

Direct 503.380.9634Email- rachel@rachelsheller.com

View ALL available Houses on the market on my website.

Licensed in the State of Oregon and Washington

My business is referral based.
If you’ve enjoyed my service, please refer me!

Prepping Your Home for Sale

Prepping Your Home For A Successful Sale

Prepping Your Home For A Successful Sale

When you’re ready to sell your home, doing a little preparation beforehand can potentially help your home sell quicker and for a higher price. 

Maximize Curb Appeal
Getting buyers through the front door starts at the curb. Manicure the lawn, trim the trees and shrubs. Pull weeds and plant some colorful flowers. Clear the walkways. Fix peeling paint and wind up that hose. Paint the address number on the curb.

Make Repairs to Visible Blemishes
Is there something that’s an eyesore, but an easy fix? If looking at it bothers you, it could bother a potential buyer and reduce the appeal of your home. Replace burnt-out light bulbs, fix that loose door handle, and make needed paint touch-ups.

Make a Buyer’s Entrance Inviting
Freshly paint the front door with a color that contrasts the house. Add a new welcome mat and hang a fresh wreath on the door.

Let the Light Shine In
Remove heavy window coverings to let in the natural light we all crave and add lamps to brighten up darker areas to add more cheer.

Remove the Clutter
This serves two purposes.

  • First, you want your home to have an open and inviting appearance. Removing clutter will make rooms appear larger and more appealing.
  • Second, it helps YOU prepare to move. Going through the clutter and getting rid of what you don’t need will make your move much easier.

Remove Personal Items
It will be much easier for potential buyers to imagine your home as theirs when they can envision their own items in it.

Highlight Special Features
Use accents and color to draw eyes to special features that you want potential buyers to notice—throw pillows, plants, or other eye-catching accessories.

Add Mirrors
Use mirrors to make rooms look larger and lighter. Position opposite windows for best effect.

Clean Out Cabinets and Closets
Buyers are nosy and they WILL open the cabinets. Make sure your contents are orderly and organized.

Eliminate Odors
Clean to remove any odors and do not cook any meals with heavy, lasting smells before a showing.

Add Aromas
You can easily add appeal by quartering an orange and adding it to a pot of water with a cinnamon stick. Simmer on low for an inviting aroma. Or bake a fresh batch of cookies (and leave a plate of them on the counter for visitors).

If you are ready to put your house on the market, call me today. I would love to help you!

FABULOUS FIXER IN CLACKAMAS-NEXT TO ELEMENTARY & FEW BLOCKS TO MIDDLE & HIGH SCHOOLS. RMLS# 22537204

13225 SE Rose Meadow Drive Clackamas, OR 97015-RMLS# 22537204- Asking $324,999

Location, Location, Location! Across the street from the Elementary, and just blocks from the Middle and High Schools! This timeless 1930 fixer home is conveniently located by schools, shopping and transit. Comfortable 1348 SF home with detached garage with opportunity to build equity in one of Clackamas’s most desirable locations. Generous .17 acre lot waiting for you create your dream yard! Build sweat equity in one of Clackamas’s most desirable locations!

IT’S A GOOD LIFE!!

Five Star award Winner 2011- 2022 honoring the top 4% of real estate professionals in Oregon.  

Rachel Sheller, Realtor, LUXE Listing Specialist, CRS, ABR, SRS, GRI, SRES, RENE, Diversity Specialist-HOWNW, Earth Advantage Broker, MASTERS CIRCLE-Diamond-Platinum, CSA-Certified Staging Agent. Oregon First-Principal Broker, Washington First-Managing Broker.

Direct 503.380.9634, Email- rachel@rachelsheller.com

View ALL available Houses on the market on my website.

Licensed in the State of Oregon and Washington

Rare 1 owner, 1 level home in one of Oregon City’s most sought after neighborhoods! $649,999 RMLS# 22022816

19466 Sunset Springs Drive Oregon City, OR 97045 -Asking $649,999 -RMLS# 22022816

WELCOME HOME! Rare 1 level home is the heart of one of Oregon City’s most desirable neighborhoods! One owner home that has been gently lived in and kept in pristine condition. 3 spacious bedrooms, 2 sparkling clean bathrooms, large laundry room with sink, bonus room above garage, substantial 3 car garage and serene covered patio overlooking a peaceful and private back yard. This highly sought-after home has high ceilings, central vacuum system, A/C, sprinkler system, insulated shed, RV parking and All appliances are included. Wonderful kitchen with cooking island with downdraft cooktop, granite, pantry, BI-microwave, hardwood floors and all appliances included. Don’t miss out on this spectacular home!!

IT’S A GOOD LIFE!!

Five Star award Winner 2011- 2022 honoring the top 4% of real estate professionals in Oregon.  

Rachel Sheller, Realtor, LUXE Listing Specialist, CRS, ABR, SRS, GRI, SRES, RENE, Diversity Specialist-HOWNW, Earth Advantage Broker, MASTERS CIRCLE-Diamond-Platinum, CSA-Certified Staging Agent, Oregon First-Principal Broker, Washington First-Managing Broker.

Direct 503.380.9634 Email- rachel@rachelsheller.com

View ALL available Houses on the market on  my Web Site

Licensed in the State of Oregon and Washington

GORGEOUS 3127 SF OREGON CITY CRAFTSMAN HOME! RMLS#22463261

12140 Hazeldell Ave Oregon city, OR 97045~ Asking $819,999 ~RMLS #

Custom Craftsman home situated in highly sought-after Oregon City neighborhood. This big beauty features 4 bedrooms, office, PLUS Jumbo bonus room and 2 car garage. Corner lot with low maintenance peaceful manicured landscaping. Fenced back yard with firepit and large patio area for enjoying outdoor living.  High ceilings throughout, big windows that let in lots of natural light, custom millwork, open floorplan, A/C, central vac, hardwoods, plus exterior of the house was painted 2 years ago. Large kitchen with island, gas cooktop, pantry, eating area, lots of counter & cupboard space-a cooks dream! Expansive great room with a wall of windows, built ins and cozy gas fireplace.

Spacious primary suite with sitting area plus rare XL vanity with double sinks, shower, linen closet and good-sized walk-in closet. Lots of storage throughout the house. Kept in excellent condition!

IT’S A GOOD LIFE!!

Five Star award Winner 2011- 2022 honoring the top 4% of real estate professionals in Oregon.  

Rachel Sheller, Realtor, LUXE Listing Specialist, CRS, ABR, SRS, GRI, SRES, RENE, Diversity Specialist-HOWNW, Earth Advantage Broker, MASTERS CIRCLE-Diamond-Platinum, CSA-Certified Staging Agent. Oregon First-Principal Broker, Washington First-Managing Broker.

Direct 503.380.9634 Email- rachel@rachelsheller.com

View ALL available Houses on the market on my website. 

Licensed in the State of Oregon and Washington

My business is referral based.
If you’ve enjoyed my service, please refer me!

CUSTOM CRAFTSMAN IN OREGON CITY.

 

16172 Widman Court Oregon City, OR 97045 ~Asking $759,999 ~RMLS# 22137147

Perched in one of Oregon City’s most exclusive and desirable neighborhoods, this home is sure to delight you! Loaded from top to bottom with high end millwork, quality materials, high ceilings, and a flowing well thought out floorplan. Featuring 4 spacious bedrooms, 2 1/2 bathrooms, generous office/den, bonus room and a 3-car tandem garage. Hardwoods, Central air, custom stamped concrete patio, private backyard with an oasis like feel, plus RV parking. All appliances included (gas range, washer/dryer)

IT’S A GOOD LIFE!!

Five Star award Winner 2011- 2022 honoring the top 4% of real estate professionals in Oregon.  

Rachel Sheller, Realtor, LUXE Listing Specialist, CRS, ABR, SRS, GRI, SRES, RENE, Diversity Specialist-HOWNW, Earth Advantage Broker, MASTERS CIRCLE-Diamond-Platinum, CSA-Certified Staging Agent. Oregon First-Principal Broker, Washington First-Managing Broker

Direct 503.380.9634, Email- rachel@rachelsheller.com

View ALL available Houses on the market on my website.

Licensed in the State of Oregon and Washington

My business is referral based.
If you’ve enjoyed my service, please refer me!

Sought After Single Level Home With 4.11 Exceptional Acres In Sandy

52220 E Cherryville Drive Sandy, OR 97055 ~Asking $699,999 ~ RMLS# 22593845

4.11 private acres with sought after single level home featuring 3 spacious bedrooms, 2 full bathrooms, vaulted ceilings, open floor plan, ceiling fans, newer cozy pellet stove, A/C, neutral colors and full tear off roof in 2019.  Huge 17 X 12 master with vaulted ceiling, oversized walk-in closet, on suite bathroom with double sinks and skylight. Also included is a detached small office with electricity, 37 X 17 shop with concrete floor & 220, 40 X 21 RV parking with hookup (possibility to enclose for an enormous shop), Separate sunroom/party room on deck with vaulted ceilings and DEQ certified woodstove. House wired for generator, fenced raised garden area sweet mini orchard. HUGE benefit to the buyer-Farm agricultural deferral-low taxes. Sellers grow Christmas trees.  Kept in pristine condition, 2 car carport, private setting, sparkling clean and move in ready, welcoming front porch with eve lights. Septic tank pumped 2021. Go to my website to see more info. This property is a winner!

IT’S A GOOD LIFE!!

Five Star award Winner 2011- 2022 honoring the top 4% of real estate professionals in Oregon.

Rachel Sheller, Realtor, LUXE Listing Specialist, CRS, ABR, SRS, GRI, SRES, RENE, Diversity Specialist-HOWNW, Earth Advantage Broker, MASTERS CIRCLE-Diamond-Platinum, CSA-Certified Staging Agent. Oregon First-Principal Broker, Washington First-Managing Broker.

Direct 503.380.9634 Email- rachel@rachelsheller.com View ALL available Houses on the market on my website.

Licensed in the State of Oregon and Washington

My business is referral based.
If you’ve enjoyed my service, please refer me!

MOVE IN READY SW HOME WITH 3 BEDROOMS, 2 1/2 BATHS, FENCED BACK YARD $400,000

Welcome Home! This home features 3 spacious bedrooms, 2 ½ bathrooms, 1 car attached garage, good sized fenced back yard that backs to a soothing greenspace. Open floor plan, kitchen with eating bar & appliances included, plus brand-new carpeting. Exterior AND interior has been freshly painted! Fabulous master suite with bath and walk in closet that overlooks the greenspace. This beauty is move in ready. You can move in as fast as you can close!

RMLS# 22244054

IT’S A GOOD LIFE!!

Five Star award Winner 2011- 2022 honoring the top 4% of real estate professionals in Oregon.  

Rachel Sheller, Realtor, LUXE Listing Specialist, CRS, ABR, SRS, GRI, SRES, RENE, Diversity Specialist-HOWNW, Earth Advantage Broker, MASTERS CIRCLE-Diamond-Platinum, CSA-Certified Staging Agent. Oregon First-Principal Broker, Washington First-Managing Broker

Direct 503.380.9634 Email- rachel@rachelsheller.com

View this and ALL available homes on the market on my website.  

Licensed in the State of Oregon and Washington

Gresham Remodeled Townhome Style Condo $215,000

1822 NE 19th Street Gresham, OR 97030~ Asking $215,000~ RMLS#21189454

Move in ready! Big 2 bedrooms 1 ½ bath townhome! Fresh luxury vinyl waterproof flooring, carpet & paint. New kitchen cabinets, quartz counters, sink, faucet and all kitchen appliances included-Including brand new washer & dryer! . All new light fixtures. All ceilings were scraped and retextured. Huge master bedroom with a large walk in closet and slider to covered deck. Open & bright floor plan. Cover carport! See all information on my webisite.

IT’S A GOOD LIFE!!

Five Star award Winner 2011- 2022 honoring the top 4% of real estate professionals in Oregon.  

Rachel Sheller, Realtor, CRS, ABR, SRS, GRI, SRES, RENE, Diversity Specialist-HOWNW, Earth Advantage Broker, MASTERS CIRCLE-Diamond-Platinum, CSA-Certified Staging Agent, Oregon First-Principal Broker, Washington First-Managing Broker

Direct 503.380.9634, Email- rachel@rachelsheller.com

View this and ALL available Houses on the market on my website.

Licensed in the State of Oregon and Washington

My business is referral based.
If you’ve enjoyed my service, please refer me!

SUMMERPLACE 1 LEVEL CONDO $249,999

                        SUMMERPLACE CONDO ONLY $249,999

14945 NE Sacramento Street #34 Portland, OR 97203 RMLS#21657648

This is an amazing opportunity for you to own an affordable one level condo in one of the most desired 55+ HOA in Portland!  This private lower unit has an amazing view of the greenspace and features 2 spacious bedrooms, 2 full baths, open floor plan, all appliances included (washer & dryer too), garage, covered patio, fresh interior paint, spacious kitchen with eating bar, gorgeous fireplace with large living, secure entrance, plus the soothing master bedroom has full on suite and large closet. Clean and move in ready. Summerplace boast a pool, tennis court, library, party room, meeting center, and athletic court. Not your regular 55+ HOA. Your in for a treat! See all ingo on my website or Call, email, or text for more information!

IT’S A GOOD LIFE!!

Five Star award Winner 2011- 2022 honoring the top 4% of real estate professionals in Oregon.  

Rachel Sheller, Realtor, CRS, ABR, SRS, GRI, SRES, RENE, Diversity Specialist-HOWNW, Earth Advantage Broker, MASTERS CIRCLE-Diamond-Platinum, CSA-Certified Staging Agent, Oregon First-Principal Broker, Washington First-Managing Broker

Direct 503.380.9634, Email- rachel@rachelsheller.com

View this and ALL available Houses on the market on my website.

Licensed in the State of Oregon and Washington

My business is referral based.
If you’ve enjoyed my service, please refer me!