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Safety Tips for Renters: Ensuring Your Smoke Detectors Are Ready 

Safety Tips for Renters: Ensuring Your Smoke Detectors Are Ready 

Safety Tips for Renters: Ensuring Your Smoke Detectors Are Ready

As renters, it’s important to stay proactive about fire safety. Smoke detectors are essential for protecting you and your home. Here are some key safety tips to keep in mind:

1. Test Monthly

Press the test button on each smoke detector once a month to ensure it’s working properly. Regular testing is a simple way to stay safe.

2. Replace Batteries Regulations 

Replace the batteries in your smoke detectors at least once a year—or sooner if you hear the low-battery alert. Fresh batteries help ensure reliable operation.

3. Check Expiration Dates 

Smoke detectors typically last around 10 years. Be sure to replace yours if it’s nearing the end of its lifespan, or if it shows signs of malfunction.

4. Report Issues Promptly 

If you notice that a smoke detector is malfunctioning, missing, or making strange noises, inform your landlord right away. Quick action can prevent serious issues.

5. Familiarize Yourself with the Escape Plan  

Know your building’s fire escape routes, exits, and designated meeting areas. This knowledge is crucial in an emergency situation.

6. Know Local Regulations 

Different areas may have specific rules regarding smoke detector maintenance. Contact your local fire department or building office to stay informed about your area’s requirements. 

By following these simple guidelines, you can help protect yourself and your home from fire hazards. Stay safe and take action today! 

Central Florida’s Daily Mortgage Rates

Central Florida’s Daily Mortgage Rates

Welcome to this weeks snapshot of Central Florida Daily Mortgage Rates!  Now has never been a better time to invest your hard earned money into something that will continue to reward you, especially with ownership!

BREAKING DOWN ‘Mortgage Rates’

Daily Mortgage Rate 11_26The mortgage rate is a primary consideration for homebuyers looking to finance a new home purchase with a mortgage loan. Other factors also involved include collateral, principal, interest, taxes and insurance. The collateral on a mortgage is the house itself, and the principal is the initial amount for the loan. Taxes and insurance vary according to the location of the home and are usually an estimated figure until the time of purchase.

Source: Investopedia.com

Each mortgage rate is determined by the lender and can be either fixed, staying the same for the term of the mortgage, or variable, fluctuating with a benchmark interest rate. A mortgage rate may vary for borrowers based on their credit profile. Here is a snap shot of the daily mortgage rates as of today, Monday, November 12, 2018. While the rates shown are not guaranteed for everyone, this gives the average buyer a good idea of what their rate should look like. We always recommend you speak with your local realtor to find the best loan program for your Orlando Home purchase. Take advantage of these mortgage rates now before it changes, contact us today by clicking on this link or filling out the form above!

Source: Bank Rate

Taking the FEAR Out of the Mortgage Process

Taking the fear out of the mortgage process

Taking FEAR Out of the Mortgage Process

A considerable number of potential buyers shy away from jumping into the real estate market due to their uncertainties about the buying process. A specific cause for concern tends to be mortgage qualification.

For many, the mortgage process can be scary, but it doesn’t have to be!

In order to qualify in today’s market, you’ll need a down payment (the average down payment on all loans last year was 5%, with many buyers putting down 3% or less), a stable income, and good credit history.

Throughout the entire home buying process, you will interact with many different professionals who will all perform necessary roles. These professionals are also valuable resources for you.

Once you’re ready to apply, here are 5 easy steps that Freddie Mac suggests to follow:

  1. Find out your current credit history & score – even if you don’t have perfect credit, you may already qualify for a loan. The average FICO Score® of all closed loans in September was 731, according to Ellie Mae.
  2. Start gathering all of your documentation – income verification (such as W-2 forms or tax returns), credit history, and assets (such as bank statements to verify your savings).
  3. Contact a professional – your real estate agent will be able to recommend a loan officer who can help you develop a spending plan, as well as help you determine how much home you can afford.
  4. Consult with your lender – he or she will review your income, expenses, and financial goals in order to determine the type and amount of mortgage you qualify for.
  5. Talk to your lender about pre-approval – a pre-approval letter provides an estimate of what you might be able to borrow (provided your financial status doesn’t change) and demonstrates to home sellers that you are serious about buying!

Bottom Line

Do your research, reach out to professionals, stick to your budget, and be sure that you are ready to take on the financial responsibilities of becoming a homeowner.

Source: Keeping Matters Current