If a borrower has $1,500 in monthly mortgage payments, $100 in monthly auto loan payments, and $400 in other monthly debt payments, their total monthly debt is $2,000; if their gross monthly income is $6,000, their debt-to-income ratio is 33 percent.

Authors

• Person: Not available Organization: Consumer Financial Protection Bureau
  What is a debt-to-income ratio? | Consumer Financial Protection ...

Sources

• What is a debt-to-income ratio? | Consumer Financial Protection ... www.consumerfinance.gov Consumer Financial Protection Bureau via serper

Referenced by nodes (2)

• debt-to-income ratio concept
• gross monthly income concept