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详细信息：
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Kay word: Calculate DTI
The debt-to-income (DTI) ratio is a personal finance measure that compares an individual’s monthly debt payment to their monthly gross income. Your gross income is your pay before taxes and other deductions are taken out. The debt-to-income ratio is the percentage of your gross monthly income that goes to paying your monthly debt payments.
DTI=Total of Monthly Debt Payments/ Gross Monthly Income
If you want to apply for a mortgage loan ,your DTI must under 50% or lower. Here’s an example showing how to calculate your DTI:
John’s monthly bills and income are as follows and we can calculate the DTI -40%.
Bills and income Amount Total DTI
Mortgage $1500
$2720
2720/6800=40%
Property Tax $480
Homeowner insurance $80
Car lease $340
Credit card $320
Gross Income $6800 $6800
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