## Calculate My Debt To Income

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How to calculate your debt-to-income ratio Your debt-to-income ratio (DTI) compares how much you owe each month to how much you earn. Specifically, it’s the percentage of your gross monthly income (before taxes) that goes towards payments for rent, mortgage, credit cards, or other debt.

Finally, divide your monthly debt obligations by your gross monthly income to get your DTI. For example if you and your spouse earn ,916 per month, your mortgage payment is \$1,350, your car loan is \$365, your minimum credit card payment is \$250, and your student loans are \$300, then your recurring debt is \$2,265.

I can tell you from my early days as a mortgage underwriter that the debt-to-income ratio consists of two numbers, the front-end and back-end ratio. The front end is a proportional measure of the debt.

Debt to income ratio is the amount of monthly debt payments you have to make compared to your overall monthly income. A lower DTI means that the lender will view a potential borrower more favorably when making an assessment of the probability that they will repay the loan.

Calculate Your Debt-to-Income Ratio. Many financial advisors suggest that your total consumer debt load (not including housing debt) should be less than 20 percent of your annual net (after-tax) income. The debt-to-income ratio looks only at your consumer debt and does not include money spent on a mortgage, rent, utilities or taxes.

To calculate the debt to income ratio, you should take all the monthly payments you make including credit card payments, auto loans, and every other debt including housing expenses and insurance, etc., and then divide this total number by the amount of your gross monthly income.

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For instance, he said that when they first got married and went to refinance the townhome that he owned prior to meeting Lauren, their debt-to-income ratio was a little. make sure that the two of.

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