DTI or Debt-to-Income Ratio Explained
If you’re in the market for a loan, chances are that lenders are going to assess something called your “DTI” ...
Are you looking for a mortgage or a car loan? If so, be prepared for a lender to pull your credit report and calculate your debt-to-income ratio.
Your debt-to-income ratio, or DTI, as some lenders call it for short, is expressed as a percentage of your monthly bills compared to your monthly income. Some lenders will compare your monthly obligations to your net, or take home pay. Others will look at your bills in comparison to your gross income (i.e., your salary before taxes and other payroll deductions are taken out of your check).
If you’re in the market for a loan, chances are that lenders are going to assess something called your “DTI” ...
Getting a loan or obtaining new credit when you’re already in debt isn’t easy – especially if your credit rating ...
Lynnette Khalfani-Cox, The Money Coach®, is a personal finance expert, speaker, and author of 15 money-management books, including the New York Times bestseller Zero Debt: The Ultimate Guide to Financial Freedom.
Lynnette has been seen on more than 1,000 TV segments nationwide, including television appearances on Oprah, Dr. Phil, The Dr. Oz Show, The Steve Harvey Show, Good Morning America, The TODAY Show and many more.
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