How to Calculate Your Debt to Income Ratio Step by Step

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Want to know if you qualify for a mortgage? Start with your debt-to-income ratio, or DTI.

Step one: Add up all your monthly debts—this includes credit cards, car loans, student loans, and minimum payments.

Step two: Calculate your gross monthly income—that’s your income before taxes.

Step three: Divide your total monthly debt by your gross monthly income.

For example, if your debts are $2,000 and your income is $6,000, your DTI is about 33%.

Most lenders prefer a DTI of 43% or lower, though lower is always better.

Understanding your DTI helps you know how much home you can afford—and improves your chances of approval.

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