Print Article for : Buying A Home Questions

Your Online Guide » Weight Loss » Weight Loss Tips

[B1158]Buying A Home Questions

by Steve Gillman, Ste

1. What is the coldest weather you will be camping in?

If your backpacking is limited to the summer months, you can probably get away with any sleeping bag rated down to 40 degrees Fahrenheit (4 degrees Celsius). Otherwise, consider your future plans and get a bag that will work at the coldest temperatures you expect to encounter. If it is too warm for summer use, you can always open it up like a blanket and lay it loosely over yourself so it won't hold in so much heat. Another alternative is to buy one bag for winter trips and one for summer.

2. What kinds of conditions will you be camping in?

The conditions you can expect will determine what fill is best for you. If you will always be backpacking in the northwest, and so possibly getting wet most of the time, you don't want down. It loses most of its insulating ability when wet. A good synthetic fill is better. On the other hand, if you will be camping most of the time in the desert southwest, a down sleeping bag is the lightest (and most compressible) option available. My own down bag weighs just 17 ounces, stuffs into a bread bag, and has kept me warm to below freezing. If you are careful you can keep any bag dry, but it is tough in some conditions, so ask yourself where you'll be going, and how good you are at staying dry.

3. How claustrophobic are you?

Some people really can't get comfortable in a mummy bag. They need room to move around. If you aren't sure how you feel about this, there is one way to find out: get in those bags. See if you feel good in a snug mummy. Borrow one and spend a night in it if you have to. A good mummy is the warmest sleeping bag you can get for the weight, but semi-rectangular may be better for comfort.

4. How big are you?

If you are tall, be sure you can fit comfortably in that sleeping bag with the hood closed. What if you are too big for a tight mummy bag? Try a rectangular or semi-rectangular one.

5. How heavy is the sleeping bag?

Even if you are not into ultralight backpacking, there is no reason to carry too much weight if it isn't necessary. A decent summer sleeping bag shouldn't weigh more than about three pounds. To get down to the weight of my down bag (17 ounces) you'll have to spend more. A winter bag will be heavier because of the additional filling, but in any case, compare the various bags according to their temperature ratings and total weight (with the stuff sack if you'll be using it).

6. How packable is it?

No filling invented yet is as compressible as down. For that reason, if you use a small backpack, you may want to consider a down sleeping bag. Some synthetics can be packed in compression sacks to reduce their volume, but this can eventually damage the filling and so reduce the bags insulating ability. Also, a compression sack adds more weight to your load. It is probably better to simply put a large synthetic-fill bag on the outside of the pack.

There are certainly other specific questions to ask about sleeping bags as you look at them. A zipper that opens at the bottom is nice for those with hot feet. A water-resistant shell can keep dripping tent condensation from wetting the filling of the sleeping bag, or allow dew to be shaken off in the morning if camping in the open. There are many other features you might find too, but start with the six questions above to quickly narrow down the options.

A pre-qualification letter is from a lender who has done a quick review of your financial situation and based on the results believes, if additional information is provided you will qualify for a loan. In other words the lender is simply stating that there has been no negative information uncovered preventing you from getting a loan.

A pre-approval letter indicates a thorough analysis of your credit, income, and assets has been completed and you are pre-approved by a lender for a specific loan amount.

As you would imagine, a pre-qualification letter is easier and quicker to obtain than getting pre-approved but it is often the first step in the approval process. A pre-qualification letter can be issued while information and documentation is being submitted and verified for the pre-approval letter.

A pre-qualification letter is normally issued by a loan officer after an initial interview, credit check and determining a loan amount. Loan officers and mortgage brokers do not make final loan approval decisions, so a pre-qualification letter is not a commitment to make a loan. Since no verification of information has been completed, the pre-qualification letter is an opinion and the lender is not bound to make a loan when you are ready to buy. There is no guarantee you will actually qualify for the loan amount for which you have been pre-qualified. The letter is used when you are making an offer on a home and indicates to the seller you are qualified to purchase the property based on the information you provided the lender and subject to verification.

Pre-approval is a formal process based on documented and verified information. It involves your assets, liabilities, down payment employment history, and credit score. Your application is sent to an underwriter and a decision is made regarding your loan. If your loan is pre-approved, you are provided with a pre-approval letter or certificate. Having a pre-approval allows you to close or get a final loan commitment quickly when you find the right property. In addition, a pre-approval for a loan gives strength to your offer and in some cases may improve your negotiating power, since being pre-approved is closer to having cash to pay for the property.

If the loan approval letter is better why pre-qualify? Because sooner or later you will have to make a formal application and getting pre-qualified is the first step in the process. It also speeds up the loan process and can save you time and headaches by only looking at homes you are estimated to be able to afford while you seek pre-approval.

Although not a requirement, a pre-approval from your lender demonstrates you have good credit history and are qualified for a mortgage loan of a specified size. In today's competitive market, this letter or certificate can provide negotiating power and strength to your offer. Sellers will generally select offers with a loan pre-approval over offers without. Maybe even more important, being pre-approved for a loan takes some of the stress out of looking for your next home. You avoid any disappointment in selecting a dream home only to find you can't qualify for the loan. In addition, you will not have to worry about meeting the lender's loan requirements.

Please understand the definition of pre-qualification and pre-approval can be somewhat flexible and the meanings may vary from place to place and lender to lender. Neither is viewed as a loan commitment. Final approvals take into account the property, title and undated review of financial conditions to make sure there have been no negative changes since the initial review.

Getting pre-qualified and/or pre-approved by a reputable mortgage company is the first step in buying a property, and should be done before you start looking for your new home because it will let you and your Realtor know what price range of home to be looking at.

The list of information your lender will want to get the loan pre-approval process started generally includes a standard residential loan application, two year's history of your residence , employers name, other income sources, copies of W2 forms or pay stubs, copies of bank statements, verification of brokerage accounts, and estimated value of other owned real estate. In addition the lender will order a credit report to determine if there are any unusual or derogatory items in your credit history which may require additional explanation or work to remove.

Article Source : Diet Lose Weight Fast

About Author

Both Steve Gillman & Julie Jalone are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.

Steve Gillman has sinced written about articles on various topics from Camping, Hypnotherapy and Entertainment Guide. Copyright Steve Gillman. To get a free ebook on how to buy , and a free real estate investing course, visit:. Steve Gillman's top article generates over 135000 views. to your Favourites.

Julie Jalone has sinced written about articles on various topics from Sell Home, Buying and Selling Home and Lose Weight. . Julie Jalone's top article generates over 33100 views. to your Favourites.