Getting a great mortgage rate, especially when it comes to constructing your own house, can take some investment and time. Not only do you have to invest time but you need to understand what you are doing.
Last week I was sitting at home caring for two children ages 4 and 18 months old. I am a live-in nanny and am responsible for the part-time care of these kids and their 3 older siblings who are school age. Normally I only work a few hours a week for the family, but this particular week, both parents had gone out of town on short notice so I found myself on child care duty 24/7. I was sitting at the kitchen table getting some work done and the kids were in the other room playing quietly when a loud knock rapped on the door. I got up and walked to the door expecting a neighbor's child asking to play with the 4 year old. Instead, when I opened the door, I was immediately overwhelmed by the smell of natural gas.
Fortunately, homes can be restored or rebuilt with the right general contractor and damaged items can be replaced. Unfortunately, the lives of the people in your home are not restorable or replaceable. So although you can't always protect your family by keeping the heater working right, or remembering to blow out the candle every night, you can do at least one thing to ensure the safety of your family, you can maintain your fire alarm and sprinkler system.
Continuing their campaign to create a fire-safe America, the U.S. Fire Administration (USFA) released materials regarding the proper maintenance of your fire alarms and sprinklers. The USFA believes strongly that the routine maintenance of your fire alarm could protect more lives than just those of those in the home, and reducing fatalities from fire damage is the USFA's number one goal.
I hurried to grab shoes, the diaper bag, my computer, and snacks for the children. I went into the room where they were playing and took each of them by the hand and walked out of the house suddenly feeling like a homeless bag-lady with two small kids. The neighbor generously offered to let us come to her home while we waited for the response team to show up.
3. Call Around You should be calling around and finding your loan before you have begun looking at houses. This gives you more time to negotiate with banks and reduce the pressure you may feel. Now that you are actively seeking a deal you need to 4-5 different lenders. Call these different lenders and act for different quotes. In order to get the most accurate quotes from lenders you need to give them the most accurate information. Go online first and find your credit score. Many companies can give you a general feel for your score, but you need to know what it is exactly. Visit myfico.com. For around fifty dollars you can get your score from the three bureaus as well as your credit history. Don't worry, this is a soft pull and will not negatively affect your score. On that same note, do not let lenders pull your credit score till you have chosen one. This hard pull will affect your score. Check with local banks and credit unions apart from your own bank. Also throw in a mortgage broker or two. Collect information from these different banks. Gather up the rates the offer along with closing costs and other associated terms. The more detail you collect the more bargaining power you have against the different lenders.
Test these alarms monthly. They also recommend installing ionization and photoelectric smoke alarms (or dual sensor smoke alarms). Alarms that you know are working save lives. They give you proper warning. In contrast, two or three alarms you assume work that are scattered around the house endanger them. If there was one thing you did to fight fires at home, it should at least be the proper maintenance of your smoke alarms (and sprinkler systems if you have them).
5. Call again and Negotiate Now that you understand what your options are. Go to your top three lenders and call them. Explain what your needs are and what better deals you have been given. Give them reason to bid against each other. The better your credit score and history the more bargaining power you have. Call them until you receive the deal that you are looking for. You will probably feel like a jerk when negotiating. It will seem that you are the only one who is bothering them this much looking for a better rate. Do not budge! This is a business arrangement and not a friendly conversation. Negotiate for the price you want. Make sure the price is within your budget. If you were thinking of building a new house talk to a few general contractors to get a feel for what you want and can afford.
If you are in need of a general contractor in Blackfoot, Idaho, give MBA Construction a call. We have the skills and expertise to make your project a reality.
Last week I was sitting at home caring for two children ages 4 and 18 months old. I am a live-in nanny and am responsible for the part-time care of these kids and their 3 older siblings who are school age. Normally I only work a few hours a week for the family, but this particular week, both parents had gone out of town on short notice so I found myself on child care duty 24/7. I was sitting at the kitchen table getting some work done and the kids were in the other room playing quietly when a loud knock rapped on the door. I got up and walked to the door expecting a neighbor's child asking to play with the 4 year old. Instead, when I opened the door, I was immediately overwhelmed by the smell of natural gas.
Fortunately, homes can be restored or rebuilt with the right general contractor and damaged items can be replaced. Unfortunately, the lives of the people in your home are not restorable or replaceable. So although you can't always protect your family by keeping the heater working right, or remembering to blow out the candle every night, you can do at least one thing to ensure the safety of your family, you can maintain your fire alarm and sprinkler system.
Continuing their campaign to create a fire-safe America, the U.S. Fire Administration (USFA) released materials regarding the proper maintenance of your fire alarms and sprinklers. The USFA believes strongly that the routine maintenance of your fire alarm could protect more lives than just those of those in the home, and reducing fatalities from fire damage is the USFA's number one goal.
I hurried to grab shoes, the diaper bag, my computer, and snacks for the children. I went into the room where they were playing and took each of them by the hand and walked out of the house suddenly feeling like a homeless bag-lady with two small kids. The neighbor generously offered to let us come to her home while we waited for the response team to show up.
3. Call Around You should be calling around and finding your loan before you have begun looking at houses. This gives you more time to negotiate with banks and reduce the pressure you may feel. Now that you are actively seeking a deal you need to 4-5 different lenders. Call these different lenders and act for different quotes. In order to get the most accurate quotes from lenders you need to give them the most accurate information. Go online first and find your credit score. Many companies can give you a general feel for your score, but you need to know what it is exactly. Visit myfico.com. For around fifty dollars you can get your score from the three bureaus as well as your credit history. Don't worry, this is a soft pull and will not negatively affect your score. On that same note, do not let lenders pull your credit score till you have chosen one. This hard pull will affect your score. Check with local banks and credit unions apart from your own bank. Also throw in a mortgage broker or two. Collect information from these different banks. Gather up the rates the offer along with closing costs and other associated terms. The more detail you collect the more bargaining power you have against the different lenders.
Test these alarms monthly. They also recommend installing ionization and photoelectric smoke alarms (or dual sensor smoke alarms). Alarms that you know are working save lives. They give you proper warning. In contrast, two or three alarms you assume work that are scattered around the house endanger them. If there was one thing you did to fight fires at home, it should at least be the proper maintenance of your smoke alarms (and sprinkler systems if you have them).
5. Call again and Negotiate Now that you understand what your options are. Go to your top three lenders and call them. Explain what your needs are and what better deals you have been given. Give them reason to bid against each other. The better your credit score and history the more bargaining power you have. Call them until you receive the deal that you are looking for. You will probably feel like a jerk when negotiating. It will seem that you are the only one who is bothering them this much looking for a better rate. Do not budge! This is a business arrangement and not a friendly conversation. Negotiate for the price you want. Make sure the price is within your budget. If you were thinking of building a new house talk to a few general contractors to get a feel for what you want and can afford.
If you are in need of a general contractor in Blackfoot, Idaho, give MBA Construction a call. We have the skills and expertise to make your project a reality.
About the Author:
MBA Construction, a general contractor in Billings MT provides all types of construction. We specialize in design-build, build-to-print and commercial construction in the energy, industrial & medical industries.
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