Asked by STACY  |  Submitted June 07, 2017

How do I find out what my debt-to-income ratio is?

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  Answers  |  1

June 20, 2017

Hello Stacy,

To determine your debt to income (DTI) ratio, add up all of your monthly debt obligations including your rent or mortgage, equity loan payments, car loans, student loans, your minimum monthly payments on any credit card debt, and any other loans that you might have. Divide the total by your gross monthly income which is your income before taxes.

The result is your DTI, which will be in the form of a percentage. The lower the DTI; the less risk you are to lenders. Mortgage lenders generally require a DTI ratio of 36% or less.

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