Determining Your Debt-to-Income Ratio
Debt Guru
MARCH 6, 2020
The result is a percentage that determines your creditworthiness – in short, if lenders believe you’ll be able to repay the loan. Keep in mind that your ratio typically excludes mortgage and student loans. Here’s how the typical lender classifies debt-to-income ratio: Less than 15%: Your debt load is within an affordable range.
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