* Debt to Income Ratio Calculator* is an online tool that is used to calculate the Debt payoff for your credit card debt repayment. This online calculator allows the borrower to assess the percentage of a consumer's monthly gross income that goes toward paying debts. A debt-to-income ratio often abbreviated as

The mortgage borrower should have the debt-to-income ratio of 28/36 in order to qualify for a mortgage

For example, your Yearly Gross Income = $48,000

Divided by 12 gives your monthly gross income which is $4000 per month

$4000 Monthly Income x .28 = $1120 allowed for housing expense

$4000 Monthly Income x .36 = $1440 allowed for housing expense plus recurring debt

The percentage of gross income goes towards paying debts varies between the different mortgage qualifiers. The conventional financing requires debt-to-income ratio of

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