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The concept of Debt to income ratio
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[QUOTE="Ganibade, post: 335849, member: 50186"] DTI (Debt-to-Income) ratio is the percentage of your gross income that is used to pay off debt and its interest monthly. Lenders use this ratio to determine if a borrower can afford to add the burden of a mortgage payment to their existing debts. The rule is that the DTI ratio should not exceed 43% of gross income, and any borrower with a DTI exceeding this percentage will find it difficult to get a mortgage. To reduce the DTI ratio to meet the requirements for a mortgage, borrowers can boost their earnings. This can be achieved by increasing their income through a side hustle or asking for a raise, paying off debts, avoiding taking on new debt, and creating a budget to save money. [URL='https://www.bankrate.com/mortgages/why-debt-to-income-matters-in-mortgages/'][/URL] [/QUOTE]
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