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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