Re: What factors into DTI?[ Edited ]
09-12-2007 05:49 PM - edited 09-12-2007 05:49 PM
They take monthly installment loan payments, and the minimum monthly payments on credit cards and other revolving loans and add them together and compare it to your gross monthly income (before taxes etc come out). Meals, utilities, etc do not count. Low 40% is the highest they like to see...low 30% and below is ideal. 50% is about the max any mortgage or auto lenders will consider.
Message Edited by urlosin on 09-12-2007 05:49 PM