Blog Community Want to get pre-qualified during the times of Covid-19..?

Want to get pre-qualified during the times of Covid-19..?

By Meline Khachatourian, April 22, 2020

There are a few tips  I would like to leave current Portland, Oregon residents  who are ready to buy or sell their homes, during the times of Covid-19.

 

Best 7 Questions to ask your Lender :

  1. Are you a direct lender ?

      2. Are you a correspondent lender or broker?

     *Please note, in my opinion, direct lender is usually best.

      3. Are you a local lender?

      4. Is the loan going to be fully underwritten?

      5. What are the current interest rates and can I lock in my rate?

     6. If my parter is affected by COVID-19, could I still qualify?

     7. Be honest, disclose your current working / employment situation with lender. Ask if it is better for you to pre-qualify for the loan individually?

     **The lenders are the experts who will give you the most realistic feedback regarding your ability to pre-qualify.

This video is created by Steph Noble, an amazing local lender here in Portland.

There are some mind- shift changes occurring within the current Real Estate Market during the time of Covid-19.

See link below for the full Video from Steph Noble, Local Portland Lender, Guild Mortgage.

 

 

Stability of interest rates, April 2020

The Feds interest right now is to solely  stabilize the mortgage baked securities for interest rates.

The Feds will increase and decrease their buying based off what is needed to keep the interest rates stable.

Their commitment is to keep rates stable.

The buying of mortgage backed securities is so powerful right now , it is out impacting any other economic factors.

Typically, when we have good or bad economic news, there is an impact to interest rates, the Feds buying mortgage backed securities is out-weighting any of those other economic factories regarding interest rates.

–You may have heard that the Feds are pulling back on what they are buying ?

Even with them pulling back as needed, to keep rates stable,  currently, the feds are buying back double what is being produced.

 

If you have any more questions or comments please reach out to me or Steph Noble directly!

https://www.livingroomre.com/agents/meline-khachatourian/

 

 

Meline Khachatourian

Broker Licensed in OR & CA

I am your local Portland agent who is very well-versed in unique, mid- century or historically significant homes.

 
As a curious art / design collector, I have lived all over the world, from the UK to the Netherlands and I call the progressive city of Portland, OR home. I am dually licensed in Oregon and California. In addition to working closely with my community in Portland, I specialize in relocation clients and creating a smooth transaction.
Having designed several homes for clients from LA, NY to OR, I have significant experience in home re-modeling, fixers and designing for the contemporary family.
My clients tend to lean on me for knowledge regarding materials, floor-plans and updating  premium design elements.
I have build my business from scratch and  work very hard to bring all our clients a premium individualized experience. I truly enjoy taking my clients on a journey to the next best phase of their lives !
Over the years, I have been fortunate enough to work with some amazing athletes, musicians and artists  throughout my 12+ year career within corporate design & real estate.
I bring the highest level of expertise to all my clients that are buying/ selling their home.
I leverage my negotiation expertise working with executives from NIKE, Google,  Alexander McQueen, Cole Haan, and  Helmut Lang.

BUYERS / SELLERS

For my clients who are buyers, I am a strategic negotiator and will try to get you the best value for your money during the home purchase process.
For my clients whom are sellers , I will take the time to provide you with tips/ tricks on staging your home, getting expert photography done and marketing the special elements of your home to get the highest market value for your residence.
I am known to  instill confidence in my clients by sharing my wealth of resources and contacts for  inspectors, roofers, contractors, stagers, etc...  as benefits that achieve maximum impact for my clients !
Feel free to give me a call, text or even go to my instagram to connect.
EMAIL: MELINE@LIVINGROOMRE.COM
DIRECT: 503 593 7242
Read More
  • T: 818-370-4206
  • meline@livingroomre.com

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