Income Mortgage Ratio Calculator

It s important that your mortgage income to debt ratio and housing ratio are well within the standard values.

Income mortgage ratio calculator. Nerdwallet s mortgage income calculator shows you how much income you need to qualify for a mortgage. For example if your monthly debt equals 2 500 and your gross monthly income is 7 000 your dti ratio is about 36 percent. To determine your dti ratio simply take your total debt figure and divide it by your income. What factors make up a dti ratio.

For instance if your debt costs 2 000 per month and your monthly income equals 6 000 your dti is 2 000 6 000 or 33 percent. However for fha loans the mortgage debt to income ratio is 41 and housing ratio is 29.