At Financial $TEPS Network (F$N), we are dedicated to providing quality, detailed, in-person workshops and seminars designed to build generational wealth and empowerment. Our website information is a condensed illustration of what our workshops have to offer participants.

F$N Seminars and Workshops are open to students, individuals, families, military personnel, and the general public.

Please refer to Workshops for a detailed breakdown of location, times, and classes offered.
What is an Asset?
  • In its simplest form, an asset is something you own and can provide future economic benefit. In short, assets put money in your pocket.
    • Examples of Assets Include:
      • Cash
      • Vehicles
      • Houses
      • Investments – Stocks, Bonds, Rental Properties 
      • Equipment
      • Receivables – Money owe to you

What are Liabilities?
  • Liabilities are what you owe other parties, and they take money out of your pocket.
  • Examples of Liabilities Include:
    • Bank Debt – Credit Cards
    • Mortgage Debt
    • Payables – Money owed to others
    • Taxes Owed
What is Net Worth?
  • Net worth is the amount by which assets exceed liabilities. Another way to say this is, it’s the value of everything you own, minus all your debts.  This is very important when trying to secure a mortgage or other loans.
What is a Debt-to-Income Ratio (Percentage)?
  • Your debt-to-income ratio is all your monthly debt payments divided by your gross monthly income.  Your gross monthly income is generally the amount of money you have earned before your taxes and other deductions are taken out. The debt-to-income is one-way mortgage lenders measure and individual’s ability to management monthly payments and repay debts.

How does a Debt-to-Income Ratio secure a mortgage loan?
  • Borrowers who have lower DTIs are more likely to successfully manage monthly debt payments, so lenders prefer to see low numbers. In general, 43% is the highest DTI a borrower can have and still get qualified for a mortgage. A debt-to-income ratio smaller than 36%, however, is preferable, with no more than 28% of that debt going towards servicing a mortgage. While the maximum DTI will vary by lender, the lower the number, the better the chances that an individual will be able to get the loan or line of credit he or she wants.
What is an Amortization Schedule?
  • An amortization schedule is a complete table of periodic loan payments, showing the amount of principal and the amount of interest that comprise each payment until the loan is paid off at the end of its term.   Download the Loan Amortization Schedule Template here >>>
Note:  For the following downloadable Excel template, ​please click the File/Save As and then Rename the document.   Your Excel documents will then be ready for editing.
Loan Amortization Schedule Template.xlsx
File Size: 44 kb
File Type: xlsx
Download File
Purchasing a home is determined on the following:
  • Income
  • Debt-to-Income Ratio
  • Employment Period
  • Credit History
  • Front or Back-End Ratio (defined and calculated in the second link below)​
Important Resources: 
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$TEPS Toward Empowerment, Prosperity, and Success

The Financial $TEPS Network (F$N) is a 501(c)(3) Nonprofit Service Organization
providing educational services in the following areas of concentration:
financial awareness, investment, accounting, and business consulting services.​

​Financial $TEPS Network, PO Box 6233, Chicago, IL  60680
​Phone:  312-874-8062     E-mail:  [email protected]