The debt-to-income ratio is one way lenders will measure your ability to manage the payments you make on a monthly basis to repay the money you have borrowed. To calculate your debt-to-income ratio, the lender will add up all your monthly debt payments and divide them by your gross monthly income. Your gross monthly income is the amount of money you’ve earned before your taxes and other deductions.
What is the debt-to-income ratio?
By admin|2015-11-24T00:47:46+00:00November 24th, 2015|Comments Off on What is the debt-to-income ratio?
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