In this Lesson

Now that we have your gross monthly income figure, let’s use that to calculate your debt ratio.

  • Calculate Your Debt-to-Income Ratio:

    Add Total new house payment $_____________

    +

    Add Total consumer debt $_____________ (for all borrowers if more than

    one)

    Divided by total gross monthly income $____________ (for all borrowers if

    more than one)

    Equals total debt ratio ________%

  • Go to my Loan Factory website to calculate your new house payment. You can also input your total debt payments in the ‘All other Payments’ field to get an accurate DTI ratio.

    Copy and paste into your browser or click:
    https://www.loanfactory.com/donrobinson/mortgage_calculator

INSTRUCTOR