An individual with $1,000 in total monthly debt payments and $5,000 in gross monthly income has a debt-to-income ratio of 20%.

Authors

• Person: Not available Organization: Sallie Mae
  What Debt-to-Income Ratio Means and Why it's Important - Sallie Mae

Sources

• What Debt-to-Income Ratio Means and Why it's Important - Sallie Mae www.salliemae.com Sallie Mae via serper

Referenced by nodes (1)

• debt-to-income ratio concept