The ABCs of DTIs – Debt-to-Income Ratios
Definition of Debt-to-Income Ratio: The figure that represents how much of your income is spent repaying your recurring monthly debts. The HIGHER your Debt-to-Income Ratio is, the more of your monthly income is being devoted to paying back your debts. Formula Used to Find Your Debt-to-Income Ratio: Monthly debts owed divided by monthly income. This […]
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