How To Negotiate Your Mortgage Rate

By Jim Thorpe


Do you ever have those experiences that, in the moment, feel incredibly stressful and overwhelming? This story was one of those moments for me. I can laugh about it now, only a few days later, but in the moment it was almost the final nick in the fragile dam that was holding my emotional well-being together.

Candles would be properly blown out before going to bed at night. Unfortunately, we don't live in a perfect world, and we often forget to take care of one small detail. The resulting fire damage is enough to change our lives forever. Accidents happen and there will always be a need to put these flames out.

The first step is your credit score and your collateral. Not much really you can do about collateral unless you really feel that you need to burn money. However, make sure to get your score up. Have a few credit cards, actively use them, pay off all your balances on time. Take out small loans for larger purchases and pay them off. The longer you have good credit history the better your credit score will be.

2. Just Before Your Search Spend a few hours and research mortgage jargon. This will make you more knowledgeable and help you understand exactly what you are purchasing. It will also catch lenders off guard and dissuade them from trying to tack on extra expenses. Determine your budget and stick to it. This is a big decision and needs to be made before you speak with lenders. If you go with no budget you may end up taking a loan much too large for you needs.

Behind him I could see a neighbor lady, her kids in a stroller, with a concerned look on her face peering around the officer. I shut the door and went to inspect the various rooms of the home to see if I could smell anything inside. A few minutes later another knock sounded and I went to answer the door.

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.

On the third page of the GFE document there is space for you to compare your different loans and see what your different options include. Again you want to compare accurate information not commercials. Mortgage rates in commercials are showing rates that will only be offered by the ideal borrower.

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).

6. Authorize and Sign After having looked at all of the details you are ready to make your decision. If the details have changed be ready to walk away unless they give you what you agreed upon. Authorize the pull on your credit. Let the bank write up the agreement and make sure to read it in depth.

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.




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