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DTI (Debt to Income Ratio)
total debt divided by total annual gross income.
Lenders prefer a debt-to-income ratio lower than 36%, with no more than 28% of that debt going towards servicing a mortgage or rent payment.
Learn MoreTo find debt-to-income ratio (DTI) you need to add up your total credit or debt balances and divide it by your total gross annual income.
Learn MoreWays to lower your DTI are minimise expenses are to pay off any high interest debt, lower interest on some of your debts, don’t take on more debt, increase the amount you pay monthly towards debts.
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