Finance
Debt to Income Calculator
Compare di monthly debt payments wey you enter with gross monthly income and find di housing share. Lending limits depend on lender and loan product.
Add to workspaceYour numbers
Other debts na credit cards, student loans, personal loans and any other monthly payments wey you must make. Results dey update as you dey type. All calculations dey run inside your browser.
Debt-to-income ratio
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How the result break down
| Di item | Monthly | Share of income |
|---|---|---|
| Housing | — | — |
| Car loan | — | — |
| Other debt payments | — | — |
| Total debt payments | — | — |
Formula
DTI = total monthly payments wey you enter ÷ gross monthly income × 100. Housing share = housing payment ÷ gross monthly income × 100. Gross income mean income before taxes and deductions.
Example wey show the calculation
Gross income of $6,000 every month, housing of $1,500, vehicle payment of $300 and other debts of $200 give total monthly payments of $2,000. DTI = $2,000 ÷ $6,000 × 100 = 33.33%. Housing share = $1,500 ÷ $6,000 × 100 = 25.00%. These na ratios, no be predictions of loan approval.
Where e fit work and limits
Dis worksheet total di payments wey you enter. Different lenders and loan products use different DTI limits and fit define eligible income and housing obligations differently. E no assess credit history, assets, local lending rules or whether you fit afford all living costs. Confirm payments and income wey your lender include; avoid counting di same payment twice.
Questions wey people dey ask often
Which payments I suppose enter?
Use recurring obligations wey relevant to your comparison, like housing, vehicle loans, student loans and credit card minimums. Dis worksheet include any housing payment wey you enter, including rent. Lender fit use different definitions. Food and utilities na separate living costs; di ratio no replace full budget.
Dis ratio dey determine loan approval?
No. No universal DTI cutoff dey. Di lender, product, income documents and other eligibility factors affect di decision. Dis calculator show di ratio without assigning approval category.
Make I use income before tax abi take-home pay?
Use gross income before taxes and deductions for dis DTI calculation. Separate budget based on take-home pay dey useful for everyday affordability, but e answer different question.
How payment changes dey affect di ratio?
If income no change, reducing required monthly payment go lower di ratio. Paying extra principal change dis calculation only when e change di recurring payment wey you enter. Ask your lender how dem assess revised payments and documented income.
Other tools wey relate to dis
- Calculator for loan repayment — payment for each loan wey dey inside your total
- Calculator for mortgage repayment — housing payment wey usually take the biggest part of DTI
- Calculator for renting or buying home — how housing choice dey change your monthly obligations
Results na estimates; dem no replace advice from qualified professional.