# 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.

Add up your total debt instalments for one month. Divide this figure by your monthly income and multiply by 100 to get your DTI. For example, if the total you pay out in instalments every month is R2000 and your monthly salary (plus any additional income you may have) is R6000, your DTI is as follows: R2000/R6000 x 100 = 33 percent.

Debt-to-income ratio is what lenders use to determine if you are eligible for a loan. If you have too much debt relative to your income, you won’t get approved for a new loan. For most lenders, the cutoff is around 41%. If you spend more than 41% of your income on debt payments each month, that makes you a high-risk candidate for a loan.

3. Divide your total debt by your gross monthly income You will arrive at your personal debt-to-income ratio. For example: \$6,000 (gross monthly income) \$2,000 (monthly debt) = 33% debt-to-income ratio You can use our affordability calculator to help you determine your DTI. Contact us with any questions.

. your DTI with the NerdWallet calculator before submitting your mortgage application can help you understand how much house you can afford. But who wants to do all that math? The NerdWallet Debt-to.

The debt to income (dti) ratio measures the percentage of your monthly debt payments to your monthly gross income. For example, if your monthly debt payments are \$3,000 and your monthly gross income is \$10,000, your DTI ratio is 30%.

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To calculate your gross monthly income, take your salary before taxes and other deductions and divide it by 12. So if your annual salary is \$60,000, your gross monthly income would be \$5,000. \$60,000 / 12 = \$5,000 (Gross monthly income) Now take your total monthly debt obligations (\$1,550) and divide them by your gross monthly salary (\$5,000).

Calculator Rates Calculate Your Debt to Income Ratio. Use this to figure your debt to income ratio. A backend debt ratio greater than or equal to 40% is generally viewed as an indicator you are a high risk borrower.

Mortgage Calculator For Mobile Home Calculator rates fha maximum financing calculator. This calculator helps determine the minimum alllowable down payment and maximum FHA mortgage allowed on a home purchase. It creates an estimate of closing costs and required upfront Mortgage Insurance Premium (MIP).