Terri Thelen- ABR, PSA, AWREP

NextHome Gadwood Group

Debt-to-Income Ratio

General

Calculating Debt-to-Income Ratio

If you’re thinking about buying a home, it’s helpful to go ahead and calculate your DTI so you have a good idea of how you’re going into the lending process. You can add up all of your monthly obligations to start.

These include your student loans, car loans, credit card payments, an existing mortgage if relevant, and child support. Then, you divide these monthly payments you’re responsible for by your gross monthly income. Gross monthly income is how much you make every month before taxes and any other deductions.

WHAT IS LOAN TO VALUE RATIO(LTV)

General

The Loan to Value Ratio is a way to compare the amount of the loan you are seeking to the appraised value of the property that secures the loan.

An LTV tells the lender just how risky the loan is. It will become a major factor in determining whether they will approve the loan or deny it.

A lower Loan to Value Ratio means that you have more equity in the property, making it less risky to lenders!
*Wealthfit

Quick Tip for your Dishwasher

General

Are your dishes not drying in your dishwasher? Especially all the plastic cups…UGH!  Here’s a tip for you to try:

Once the dishwasher is complete, open the door and lay a terry cloth towel on the inside door of your dishwasher. Close and let sit for 10 minutes. Open the door and your dishes will be a lot dryer.  Try this and let me know how it worked for you!

Stay tuned for more tips!

 

DO YOU HAVE GNATS?

General

Those little pesky flies are so annoying!  Here are a few home remedies to get rid of them.

4 Ways to Get Rid of Gnats

1. Make an apple cider vinegar trap

Place a few tablespoons of apple cider vinegar, a few drops of dish soap, and a tablespoon of sugar in a bowl and stir the contents. Set your bowl in an area where gnats are prevalent, like your kitchen or bathroom. The sugar and apple cider vinegar combination will attract gnats, and the dish soap traps the gnats and eventually causes them to drown.

2. Make a fruit trap

Homeowners can cover a jar of rotting fruit with perforated plastic wrap. The gnats will enter the jar and get stuck in it.

3. Pour diluted bleach down the sink or tub drain

If you notice gnats around your kitchen sink or bathtub, pour a cup of diluted bleach down the drains to kill the gnats.

4. Make a candle trap

Place a candle in a candlestick and fill the holder partially with water. Light the candle and turn off the lights. The gnats will flock to the flame and be burned or will fall into the water and drown.

Easy trick to hang a picture straight the first time!

General

Flip your picture frame over on its back where the hangers are.  Take a piece of blue painter’s tape and place it under the metal hangers.  Put a dot in the middle and then position tape on the wall.(make sure your tape is straight).  Hammer your nail in the center of the dot on the tape.  Remove tape and hang your new picture.  It is that easy!