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What is the Debt-to-Income Ratio?

debt-to-income ratio
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What is the Debt-to-Income Ratio?

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A ratio used by lenders to determine whether a person is qualified for a mortgage. Debt-to-Income is the total amount of monthly debt, including house payment, credit cards and other loans, divided by the total gross monthly income.

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A percentage derived from the borrower’s monthly payment obligations on long term debt divided by their gross monthly income.

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