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Buying a Home / I’ve heard of the term debt-to-income ratio. What does it mean exactly?

I’ve heard of the term debt-to-income ratio. What does it mean exactly?

Q: I’ve heard of the term debt-to-income ratio. What does it mean exactly?

To find your debt-to-income (DTI) ratio, take the total of monthly debt payments (credit cards, loans, a mortgage, etc.), divide that number by your gross monthly income, and multiply by 100. A low DTI means you have a good balance

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To find your debt-to-income (DTI) ratio, take the total of monthly debt payments (credit cards, loans, a mortgage, etc.), divide that number by your gross monthly income, and multiply by 100. A low DTI means you have a good balance

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I’ve heard of the term debt-to-income ratio. What does it mean exactly?

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