DEBT TO INCOME RATIO WORKSHEET
[pic]
Debt to income ratio worksheet
How do you determine what level of debt is reasonable to carry at your income level? An easy way is to look at the relationship your monthly debt and your income. Use this simple formula to calculate your debt to income ratio.
|Total |÷ |Total |= |Debt |
|Monthly | |Monthly | |To |
|Debt | |Net | |Income |
|Payments1 | |Income | |Ratio |
1Exclude rent/mortgage.
Place your information in the blocks below:
| |÷ | |= | |
If the resulting percentage is:
Under 15% RELAX – Your debt to income ratio is well within an
acceptable range.
15% - 20% BE CAUTIOUS – You want to reduce your current debt load.
Plan to attend a SMMC workshop or schedule a personal
consultation.
Over 20% DANGER – You are heavily indebted and in danger of losing
control of your personal financial situation. Act now to take
control of your finances by scheduling a personal SMMC
consultation at your earliest convenience.
Source: Money Management International’s Understanding Money and Credit Reference Guide
Student Money Mangament Center
unt.edu/moneymangement
940.369.7761
................
................
In order to avoid copyright disputes, this page is only a partial summary.
To fulfill the demand for quickly locating and searching documents.
It is intelligent file search solution for home and business.
Related searches
- debt to income ratio for mortgage approval
- debt to gdp ratio us
- debt to assets ratio good
- debt to value ratio calculator
- debt to credit ratio calculator
- acceptable debt to income ratio for mortgage
- debt to income ratio calculator for mortgage
- debt to income ratio for mortgage
- debt to income ratio template
- what debt to income ratio for mortgage
- debt to income ratio for fha 2020
- debt to income ratio for a mortgage