fincalculator
Debt-to-Income Ratio Calculator
Use this free Debt-to-Income Ratio Calculator to calculate your DTI for loan approval. Simple, accurate, and easy to use for borrowers.
The Debt-to-Income (DTI) Ratio Calculator helps you measure the percentage of your gross monthly income that goes towards paying your monthly debt payments. It is a key metric lenders use to determine your ability to manage monthly payments and repay debts.
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INPUT VALUES
Total Monthly Debt2000
Gross Monthly Income5000
When to Use This Calculator
Use this calculator when:
- Applying for a Mortgage: Lenders typically prefer a DTI below 36%, with no more than 28% going towards housing.
- Seeking a Loan: A lower DTI indicates to lenders that you are a low-risk borrower.
- Checking Financial Health: A high DTI can be a warning sign that you have too much debt for your income level.
Example Scenario
Example Calculation:
If your total monthly debt is $2,000 and your gross monthly income is $5,000:
($2,000 / $5,000) * 100 = 40% DTI.