What is Debt to income ration?

What is Debt to income ration?

Calculating your debt to income ratio (DTI) is one of the simplest ways to get a handle on your current financial health.

DTI is the percentage of your monthly income that goes towards debt payments.  Lenders look at your DTI when they are considering your ability to pay back new debt.  Your debt to income ratio can have an impact on how much home you can afford because your DTI can affect how much money a lender might be willing to let you borrow.

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What is Debt to income ration?

What is Debt to income ration?

Calculating your Debt-To-Income ratio (DTI) is one of the simplest ways to get a handle on your financial health. John Coneys of Freedom Mortgage, and I can help you find out how that high-volume of spending could affect your DTI! #RealEstate #Realtor #HomePurchase #BuyersMarket #FreedomMortgage #DTI #LetFreedomHelp