A good balance between debt and income is an important factor for lenders when approving a mortgage application. This also refers to debt-to-income (DTI) ratio, which compares your total debt to your income.
You can calculate it by dividing your monthly debt by your monthly gross income (the result in percentage). Primary Residential Mortgage, Inc. and other mortgage companies in Fort Myers note that lenders use your DTI to determine your ability to handle the payments and the amount of house you can afford.
The Ideal DTI Ratio
If you have a low DTI, lenders will consider you an attractive candidate. Most companies want to see a ratio of 36% or lower. It is also important that no more 28% of your income will go to monthly home loan payments. Some other lenders still accept borrowers with a DTI ratio of 43% (usually the highest). For ratios beyond that, the lender is likely to deny your application, as your recurring expenses are extremely high as compared to your salary.
Lower Your Debt
There are a few ways to lower your DTI, one of which is lowering your monthly debt. You can do this by buying less and saving more. Determine where a significant portion of your income goes each month. If it goes to morning coffee, try to make your own coffee at home. You can also benefit from making dinners at home if you always dine out.
Try to Earn More
Increasing your income is another way, but it’s not easy for some borrowers. You can do it by taking a part-time job, working extra hours, or taking more tasks for an extra pay. You can also take a training course or get a certification to improve your earning potential and marketability. If you are married, you can ask your spouse to take an extra work or return to work (for stay-at-home parents).
Other than lowering your debt-to-income ratio, you should also take other steps to improve your chances of securing a loan. These include improving your credit score, fixing errors in your credit report, and saving more for a bigger down payment.
Most carmakers will disclose sad news when it comes to the use of diesel in the United States —with Mercedes-Benz as an exception. The German automaker has an enduring history of diesel power. Its diesel history is actually the longest, as its 1936 260D was the world’s first diesel-powered passenger car.
The 2013 GLK adds more to its already established reputation of style and sophistication. It has an intelligently redesigned front-end styling, a revamped interior, more power, and improved fuel economy. The carmaker’s smallest SUV is the first three-pointed star for those looking for style and function.
Providing inspiration for the newest model is a 2.1-liter, 4-cyldiner diesel, complemented to the car’s supreme seven-speed automatic transmission and 4Matic drive. Talking about price, the GLK250 Blue TEC is worth $39,495, putting it between the GLK350 ($37,995) and GLK350 4Matic ($39,995). But just like all cars from the brand, its price is likely to increase. A representative from the company revealed that the average transaction price for a GLK would cost up to $43,000.
Many people misunderstand the efficient markets hypothesis (EMH). They think it says that markets are efficient methods of doing everything, including health care and allocating capital. Instead, it says that markets process information about what prices should be in a market.
Yesterday’s Twitter Jitter only proves this so. The Associated Press tweeted based on bogus information that two bombs had gone off at the White House, injuring the President. Had this been true then there would have been a decline in the value of US companies. A fall in that first minute after the newsbreak is indeed evidence of information efficiently processed. Then it took only a minute or so for the update stating that it was false. Prices bounced back again, showing again that the information was efficiently processed.
The EMH only says that markets are efficient at processing information. All currently known information is contained in prices.
Can Twitter prove more hypotheses? Find out more from Forbes’ Tim Worstall.
The London Marathon announced a five-year extension to its sponsorship deal with Virgin Money until at least 2017. They are convinced that this continues to help confirm their status as the world’s number one marathon. A financial services unit owned by billionaire Richard Branson’s Virgin Group, Virgin Money aims to help runners raise £250 million for charity over five years. They have reported to raise more than £150 million in the first three years.
Tsegaye Kebede of Ethiopia and Kenya’s Priscah Jeptoo won the men’s and women’s races, respectively, at the London Marathon yesterday. They increased security after the Boston bombing. The 34,278 finishers remembered the victims by wearing black ribbons.
The ballot to enter the 2014 race opens online on April 29.
Will Virgin Money continue to help the London Marathon raise millions for charity? Find out more from Alex Duff of Bloomberg.
The country needs to raise extra 6bn euros to secure a 10bn-euro bailout from Brussels and the IMF.
Although the president is not asking for more money, he is urging EU leaders to change their policy towards Cyprus.
According to a draft document released by country creditors, the bailout has risen to 23bn euros from 17.5 billion euros.
The 10bn euro part of the bailout, which will come from Europe and the IMF, is about to be approved by the member states’ national parliaments, the minister meeting in Dublin said.
According to the analysts, the increase in the cost of the bailout meant the country faced huge new challenges. Jonathan Loyes, chief European economist at Capital Economics said that the biggest burden of the increase in the bailout will fall on depositors and bank bondholders, whose combined contribution will rise from an expected 5.8bn euros to 10.6bn euros.
Can Cyprus raise the money? Find out more in this BBC article.
A growing concern in the United Kingdom is the new knowledge-based National Curriculum that will roll out starting 2014. Many teachers claim that emphasizing standards for ‘targets and testing’ will hamper the development of children’s creativity and social skills.
“[In] Classrooms, dominated by specific learning outcomes and teachers talking, it’s very easy for learning to become something which is spoon-fed,” Sue White from Plymouth’s school of education claimed. She continues to explain that outdoor spaces offer chances for children to be more creative and inquire more. They become more socially skilled as they pursued their own interests and engaged in conversation with their peers about what they learn.
This has sparked differing opinions about the future of UK’s education system. Learn more about the thoughts of researchers, here on an article from the Telegraph UK.
It can be difficult to remember all the details that fill your life – passwords to keep track of, chores to do, tasks at work, personal obligations, and so on. But you will find remembering everything even more difficult if you don’t fix bad habits in your life. Men’s Health explains in “Can You Reverse Memory Loss” what habits can improve your mind as well as your body.
Avoid Bad Habits
There are many things that can negatively impact your health, but you may not realize that these bad habits can impact your memory as well. Not getting enough sleep can prevent your brain from functioning properly, leaving you struggling to perform at your best. Stress is another thing that can subtly impact your health; it can lead to high blood pressure, headaches, chest pain, insomnia, anxiety, and impaired memory. To keep your mind working at its peak, make sure no bad habits are hampering your memory.
Maintain Good Habits
Keeping your memory working well requires more than just avoiding bad habits; you have to actively work to keep up good habits. This involves maintaining a healthy diet with plenty of fruits, vegetables, and protein rather than junk food, and exercising regularly. A few minutes of exercise in the morning can be a very good to get your blood flowing in the morning, providing your brain with the nutrients and oxygen it needs to work properly. By keeping your body healthy, you will be improving your mind as well.
Being a part of the working world is, for many people, an unfortunate necessity. Some even find their job so stressful that they dread waking up every morning and going to work. But you don’t have to be one of the fortunate few who are able to follow their passions in order to find enjoyment in your work. Cosmopolitan suggests in “How to Rekindle the Passion – Between You and Your Job” how to rediscover the joy in your work.
Even if you dread or dislike your job now, you may not have always felt that way. If it was a position or responsibility that you used to be happy and excited about, figure out what has changed in the interval. Many people who are good at their work find themselves being asked to do more and more; if you dislike your job because you are feeling overwhelmed, talk to your coworkers or boss about how to lighten your schedule. You may feel reluctant to admit that things are getting too much for you, but you will be able to do your work better if you do not get burned out on it.
Take Time Off
When was the last time you took a vacation? Everyone needs a break from work now and then, and if the job is one that stresses you, then you are even more in need of time off to rest and recuperate. The problem is that many companies are so work-oriented that you might even feel guilty for scheduling time off; but by taking care of yourself with these tips, your work will improve as well.
There are holiday destinations for all sorts of travelers, but even those looking for outdoors activities often miss the wonderful variety offered by national parks. Rather than going to commercialized holiday destinations that offer nothing new, National Geographic describes in “Best National Park Adventures for Kids” some national parks that are hidden treasures.
The Home Of Old Faithful
Yellowstone National Park is one of the most well-known national parks in the United States, but many people only know it for being the home of Old Faithful. Yellowstone has much more to offer than geysers, though; the park is giant, spanning three states and consisting of more than two million acres. It has a petrified forest, waterfalls, and abundance of wild animals, including wolves and bison. Its mountainous terrain and vast area will appeal to explorers of all ages and will ensure that you visit that park again and again.
Where To Visit Volcanoes
Visitors to Hawai’i may be looking forward to a relaxing vacation in a pleasant climate and beautiful area, but the islands also have many attractions for those who appreciate the outdoors. For one thing, the islands provide the rare opportunity to witness and get close to active volcanoes. The Hawai’i Volcanoes National Park allows visitors to view magma pouring into the sea, and holds a host of information about the earth’s activity that is sure to fascinate. When it comes to spending your vacation among beautiful and unique outdoors locations, you can’t do better than these.
Yogurt parfait is the latest fad food; with its combination of yogurt, fruit, and nuts, it makes for a delicious dessert. But it is not always as healthy an option as it sounds; many stores that sell parfait may add sugar or other ingredients to make it tastier. If you are looking to make healthy and delicious parfait at home, Taste Of Home suggests in “Yogurt Parfait Recipe” some essential steps to follow.
Use A Healthy Yogurt Base
If you want to end up with a healthy dessert, you have to use healthy ingredients. You may wish to look into using low-fat or low-sugar yogurt, or simply ensure that you are using plain or vanilla yogurt. These types of yogurt are less likely to be filled with added sugars and other unhealthy ingredients than fruit-flavored or dessert-flavored yogurts.
Add Quality Ingredients
The other ingredients you add should also be healthy. Fruit is a common addition, but for the best nutritional quality be sure that you are adding fresh fruit rather than canned fruit. This makes it more difficult to prepare parfait in advance, as the fresh fruit will not keep well, but you will be avoiding the additional sugar content in canned fruit. Granola is another common ingredient, but read the nutritional content before you add it. Many flavored granolas have a high sugar and fat content; stick with using unflavored or mildly flavored granola. When these ingredients are combined, you will be able to enjoy a healthy and flavorful dessert.