The procedure to calculate a debt-to-income ratio is: (1) Add up all monthly bills, including rent or house payments, alimony or child support, student/auto/other loan payments, and minimum credit card payments; (2) Divide this total by the gross monthly income (income before taxes); (3) The resulting percentage is the debt-to-income ratio.

Authors

• Person: Not available Organization: Wells Fargo
  Calculate your Debt-to-Income Ratio - Wells Fargo

Sources

• Calculate your Debt-to-Income Ratio - Wells Fargo www.wellsfargo.com Wells Fargo via serper

Referenced by nodes (2)

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