Your Debt-to-Income Ratio:

Based on the information provided, your DTI ratio is:



Frequently Asked Questions

The Debt-to-Income (DTI) Ratio is a personal finance measure that compares an individual's monthly debt payment to their monthly gross income.

Your DTI ratio is crucial because lenders use it to measure your ability to manage monthly payments and repay debts.

The DTI ratio is calculated by dividing your total monthly debt payments by your gross monthly income, expressed as a percentage.

A DTI ratio of 36% or less is generally considered good, indicating you are likely managing your debt well relative to your income.

Yes, it's possible to get a loan with a high DTI ratio, but you may face higher interest rates or need to provide additional documentation.

Improving your DTI ratio can involve paying off debt, increasing your income, or both. Consider strategies such as budgeting, consolidating debts, or seeking higher-paying employment opportunities.

For a deeper understanding of the ideal Debt-to-Income ratio and its impact on financial planning, check out these resources:

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