Bellwether's Blog on life and money
Career Path
DO YOU KNOW IF YOU ARE ON THE RIGHT CAREER PATH?
One way to find out if you are on the right career track is to look into vocational testing. There are a myriad of tests available to determine if you’re using your natural talents and skills at your job or whether you need to shift to another position at the company to work at your best. Here are a few guidelines on the types of vocational testing available:
Read More10 Tips to Buying Your First Car
Nothing feels better than getting your first car, it is one of life’s most memorable moments. Being a first time buyer in today’s world gives you countless options, all available at your fingertips.
The road map below will help you navigate the process of purchasing your first car.
Read More15 vs 30 yr Mortgages
Mortgage packages that are available these days are diverse and formulated to facilitate all kinds of circumstances. A person can easily feel overwhelmed because of the number of options available.
Choosing between a 15-year versus a 30-year mortgage plan is one such situation. Although the structure of both mortgage strategies are the same, there are some considerations to keep in mind before selecting a mortgage plan.
Read MoreMortgage Qualifying
There is a lot of misconception out there when it comes to qualifying for a mortgage loan. For instance, the notion that from the lender’s perspective, loan eligibility is based only on a formula.
Although mortgage underwriters look at a variety of different information when determining loan qualifications, it ultimately comes down to four things: credit, equity, income and assets.
Read MoreDebt-to-Income Ratio
Debt-to-Income (DTI) ratio is a personal finance measure that helps in identifying an individual’s debt payment in comparison to their overall income. It is a way through which a lender can determine your ability to repay the money that you have borrowed.
It is important that you do not confuse DTI with your credit card utilization, which is the amount of debt that you have accumulated in relation to your credit limits. Several lenders, especially mortgage or auto loan lenders, make use of your debt-to-income to determine your ability to pay them off responsibly. For example, a mortgage lender will use your DTI ratio to figure out how much of the mortgage you can afford to pay after all other monthly debts are paid off.
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