Debt-to-income ratio is a calculation lenders use along with credit history to evaluate whether a borrower can repay a loan. DTI divides the total of all monthly debt payments by gross monthly income. A borrower with rent of $1,000, a car payment of $300, a minimum credit card payment of $200 and a gross monthly income...
The article What’s a Debt-to-Income Ratio? originally appeared on NerdWallet.
from NerdWallet
https://www.nerdwallet.com/blog/loans/calculate-debt-income-ratio/
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