Real Estate News

What Is Debt to Income Ratio

January 26th, 2022 4:01 PM by Heidi Gravel

The debt-to-income ratio refers to how much of a borrower’s monthly income is eaten up by debt. Creditors, especially mortgage lenders, want to know what’s left over after all monthly debts are paid.

The ratio is calculated by dividing monthly debt payments by gross monthly income. It’s a key barometer for lending someone money.

Remember it's good to shop around so if you need a trusted lender, give us a call today!

Have a Blessed Wednesday N.G

Source: Curated Social

#RealEstate #Mortgage #Realtor #Lender #Debt #Income #Ratio #HelpfulAgent #HomeBuyer

Posted by Heidi Gravel on January 26th, 2022 4:01 PM



My Favorite Blogs:

Sites That Link to This Blog: