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While waiting for an approval from my bank for new house loan mortgage application, I have been informed that the bank has checked my loan history and status and they said that my debt-to-income ratio is slightly above their ratio number.
Calculating your debt-to-income ratio is easy, open up an excel spreadsheet, put and sum up all of your bank or financial institution debts in one column, then put and sum up all of your income in other column, and divide the sum of your debt to the sum of your income. Inside this tool, there is a ratio classification which I quoted from Gerri Detweiler, author of The Ultimate Credit Handbook. This tool will be more suitable if you plan to apply for a loan mortgage and you want to calculate whether your ratio is below your bank requirement where maximum ratio of 36% or 37% is the most common parameter used by banks to give you loan. Driving in South Florida (like most cities), let’s just say, can both literally and figuratively drive you to drink! Enter your email address to subscribe to this blog and receive notifications of new posts by email.


But, since I am already being their customer for more than 10 years with good payment track record, it looks like that my loan mortgage will be approved.
And there are some other classification from other experts that probably more suitable for you. In order to post comments, please make sure JavaScript and Cookies are enabled, and reload the page.
Debt-to-income ratio is a personal finance measure that compares the amount of money that you earn to the amount of money that you owe to your creditors.
It just seems  that wherever and whenever I drive, there is road construction or an accident that just happened. I also have real-time traffic as part of my car’s GPS system so I use the two simultaneously.


If you are still confused to run it using excel you can download this simple debt-to-income ratio calculator to help you find out your ratio. Any financial institutions or banks usually calculate it to determine your mortgage affordability. So, be wise with your expenses, and read many references in internet if you have problem on managing your monthly expenses.



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