๐ณ Debt-to-Income (DTI) Ratio Calculator
DTI (%) = monthly debt payments รท gross monthly income ร 100
Enter your total monthly debt payments (mortgage, credit cards, auto loans, etc.) and your gross (pre-tax) monthly income to calculate your debt-to-income ratio (DTI) โ a widely-used measure of how much of your income goes toward debt repayment.
How to use
- Enter your total monthly debt payments.
- Enter your gross (pre-tax) monthly income.
- Your debt-to-income ratio (DTI) is calculated automatically.
FAQ
What is DTI?
It's the percentage of your gross monthly income that goes toward monthly debt payments. It's widely used, for example in mortgage underwriting, to assess borrowing capacity.
What's the formula?
DTI (%) = total monthly debt payments รท gross monthly income ร 100 โ a simple division.
What should I include in "total monthly debt payments"?
Typically this includes fixed monthly payments like mortgage, credit cards, auto loans, and student loans. Exactly what to include can vary by lender and loan type, so check with your specific lender for their exact criteria.