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Your debt-to-income ratio (DTI) is a key factor in mortgage approval. It compares your monthly debt payments to your gross monthly income. Lenders use it to assess your ability to manage monthly payments.
Simple Formula
Calculating Your DTI Ratio
To calculate your DTI, divide your total monthly debt payments by your gross monthly income. This gives you a percentage that represents the portion of your income used to pay debts. For example, if your monthly debt payments total $2, 000 and your gross monthly income is $6, 000, your DTI is 33%.
Calculate Your Debt-to-Income Ratio Instantly
Use our free DTI calculator to quickly determine your debt-to-income ratio. Knowing your DTI is the first step in understanding your mortgage eligibility and financial health. Get an accurate assessment in seconds!
- Easy Input: Enter your income and debts.
- Instant Results: See your DTI ratio immediately.
- Mortgage Ready: Understand your borrowing potential.
