Calculate Debt To Income Ratio For Mortgage
Determine your gross monthly income. To calculate your debt-to-income ratio. Debt To Income Ratio Dti Limits For 2014 Fha Conventional And Qm How to calculate your debt-to-income ratio 1. Calculate debt to income ratio for mortgage . To calculate your debt-to-income ratio add up all of your monthly debts rent or mortgage payments student loans personal loans auto loans credit card payments child support alimony. Gross monthly income of 8000 x 41 3280 can be applied to recurring debt plus housing expenses. If you have a 250 monthly car payment and a minimum credit card payment of 50 your monthly debt payments would equal 300. Your Debt to Income or DTI is a very important metric. If youd like to run your own numbers please use this Mortgage. The rule of thumb is you can afford a mortgage where your monthly housing costs are no more than 32 of your gross household income and where your total debt load including housing costs is no more than 40 of your gross houshold income.