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Categories
Bank Accounts
Budgeting
Employee Benefits
Estate Planning
Investing
Insurance
Loans & Credit
Paying for Education
Savings
Taxes
Financial Calculators
Advanced Mortgage
Car Payment
Compound Interest
Credit Card Repayment
Debt to Income Ratio
Life Insurance
Paycheck
Pay Raise
ROI
Student Budget
Directory
Bookkeeping and Accounting Services
Community Partner Work Incentives Counselor
Estate Planning Attorney
Financial Advisor
Financial Coach
Insurance Agent
Loan Officer
Real Estate Agent / Realtor
Tax Preparer
Resources
About
Debt to Income Ratio Calculator
Debt to Income Ratio Calculator
Monthly income
Monthly debt payment
DTI
Excellent!
While you should pay off your debt as soon as possible, this debt to income ratio should allow you to live the lifestyle you want without major constraints.
Healthy
. You should avoid incurring more debts, and might have a problem getting approved for a mortgage or yet another loan. Still, you are in a relatively good situation.
Troubling
. You probably won't get approved for any additional loans; you should start working on a plan that will help you reduce your debts.
Dangerous
. Such a debt to income ratio indicates financial trouble. You should devote as much money and energy as possible to pay off your loans.
Extremely Dangerous
. More than half of your income is used to pay off debts and mortgages. If you're not following a strict payment plan yet, don't hesitate to consult a financial advisor and get professional help.
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