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Debt to Income Ratio
Debt to Income Ratio Calculator
Monthly income
$
Monthly debt payment
$
DTI
%
Excellent!
While you should pay off your debt as soon as possible, this debt to income ratio should allow you to live the lifestyle you want without major constraints.
Healthy
. You should avoid incurring more debts, and might have a problem getting approved for a mortgage or yet another loan. Still, you are in a relatively good situation.
Troubling
. You probably won’t get approved for any additional loans; you should start working on a plan that will help you reduce your debts.
Dangerous
. Such a debt to income ratio indicates financial trouble. You should devote as much money and energy as possible to pay off your loans.
Extremely Dangerous
. More than half of your income is used to pay off debts and mortgages. If you’re not following a strict payment plan yet, don’t hesitate to consult a financial advisor and get professional help.
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