Author:
Hi, I am Anowar, and more than 10 years of experience and good knowledge of mathematical
applications.
We create user-friendly tools that are useful in our everyday calculations.
Use this calculator to calculate your debt-to-income ratio (DTI). It helps you understand your financial health and your mortgage affordability. Because, it is an important metric that you can use to evaluate loan applications.
Your debt-to-income ratio (DTI) is the percentage of your monthly income that goes toward paying debts. This important financial metric helps you calculate your ability to manage monthly payments and repay debts.
Gross monthly income before taxes, including regular salary, bonuses, and other reliable income sources.
All monthly debt payments including mortgage/rent, car loans, student loans, credit cards, and other loans.
Housing costs (mortgage/rent, taxes, insurance) divided by monthly income. Should be below 28%.
All monthly debt payments divided by monthly income. Should be below 43% for most loans.