Here we are again. The temperature dips and Christmas music can be heard everywhere. November means preparing for family visits and Thanksgiving dinner, and it also means it’s time to start preparing for the winter ahead. Here’s an overview of the things you’ll need to check and maintain in order to “winterize” your home.

Windows and Doors – These are often the biggest culprits when it comes to losing heat or allowing cold air to come in. Inspect all external windows and doors for cracks or holes, and replace as needed. Use weather stripping around the edges and install storm windows if available.

Structure and Foundation – As the weather fluctuates throughout the year, cracks can occur in the foundation and walls. When winter arrives, mice and other pests will find these cracks, trying to escape the cold. Seal and tuck-point these cracks, and make sure that there are no food sources near the inside or outside of your home.

Roof and Gutters – Adding insulation to your attic and replacing old or worn shingles will help keep heat from escaping as it rises. Keeping the gutters clean will direct water away from your home before it starts to freeze.

Plumbing – Frozen water in pipes can cause costly damage. Make sure you know how to shut off your water main in the event of an emergency, insulate any pipes exposed to the outdoors, and drain other tubing such as hoses or air conditioner pipes.

Miscellaneous – If you have snow removal machines, or even just a shovel, make sure they’re in full working order. Since heat or fireplaces will be running more often, be sure that smoke and carbon monoxide detectors are functioning and have fresh batteries. Finally, winter storms can knock out power and other systems—have an emergency kit handy.

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Most of the factors that go into the underwriting approval process of a mortgage application are fairly straightforward—a first-time homebuyer can understand the basics of what is being assessed in their debt, income, and credit history. The debt-to-income ratio, however, is a unique instrument of the mortgage lender, and might not be as clear on the surface.

Underwriters review two different values to determine the debt-to-income ratio: a front-end percentage and a back-end percentage. The front-end refers to the amount of a prospective homebuyer’s income that goes towards their current housing costs (rent, current mortgage payments, condo assessments, and property insurance/taxes). The back-end refers to all debt payments for which the borrower is currently responsible, including the front-end percentage. These two percentages together create the borrower’s debt-to-income ratio, expressed as (front-end percentage) / (back-end percentage). By multiplying the borrower’s monthly income by each side of this ratio, the lender can determine what they can afford in a mortgage.

This ratio compared to the standard debt-to-income ratio. In the United States, the standard conforming loan ratio is 28/36 (signifying that the borrower should currently have 28% of their monthly income available for housing expenses and 36% for housing expense plus all other debt). For FHA-approved loans the ratio is 31/43, rural properties purchased with USDA loans are calculated with a debt-to-income ratio of 29/41, and Veterans Affairs loans are assessed on a single standard of 41 (meaning that the borrower must simply have 41% of their monthly income allowed towards all debt).

Although this ratio is a significant part of any mortgage application review, as with any application, the underwriter will be looking at the borrower’s entire financial situation. The general strategy for any hopeful borrower should be to reduce debt obligations and maintain a history of financial responsibility.

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When it comes to holding value and prestige, few things can be measured up to gold. Valued both for its practical properties—such as malleability and conductivity—as well as its aesthetic properties, gold has long been its own commodity as well as a basis for commerce. Today, gold is considered among the most stable forms of currency; although the price may fluctuate, it maintains financial power even while bonds and securities may falter. Because of this characteristic, investing in gold is considered safer than many other investments.

The rise and fall of gold prices is tied to a number of factors, but as with most goods, the basic market forces of supply and demand come into play. However, gold’s relationship with these forces is unique. The vast majority of gold that has been mined is still in existence in some form, meaning that consumption and supply shortage is less of a concern in terms of pricing. As a result, gold prices tend to be more heavily influenced by demand, which can range from anything including technological needs to simple sentiment. For example, in uncertain economic times or times of military conflict, consumers tend to worry that their standard paper currency may become devalued…and as such, they are more apt to hoard gold.

Specific prices for gold are set twice per business day via the “London gold fixing” meeting, which is a telephone conference between members of five British gold-trading firms within the London Bullion Market Association—an independent institution regulated in part by the Bank of England. The representatives in this meeting are currently rotated each year among LBMA members. Price-fixes are reported in three forms of international currency: the US dollar, the British pound sterling, and the euro, and the price is listed per “troy ounce” of gold—approximately 31 grams.

Although the gold standard is no longer a customary system of currency exchange, the metal itself remains precious, and commands value on the market. Gold prices hit a record high in August of 2011, and are likely to stay high for the near future—if you have any gold you’re willing to part with, now might be a good time to sell!

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