How to Calculate Debt-to-Income Ratio (DTI) and What It Means
When applying for a loan, such as a mortgage or car loan, lenders will typically ask for your debt-to-income ratio (DTI). DTI is a measure of how much of your monthly income is used to pay off your debts. Lenders use DTI to assess your ability to repay a loan. In this article, we’ll explain … Read more