For example, if the total obligations of the borrower is $ 1,400 ($ 1,000 for housing expenses and $ 400 for other credit obligations), the debt ratio would be 35 % ($ 1,400 / $ 4,000 = 35 %). (mortgage-x.com)
Aim to keep total rent or mortgage payments plus other credit obligations fewer than 35 to 40 percent of your monthly income. (rismedia.com)
For example, if the total obligations of the borrower is $ 1,400 ($ 1,000 for housing expenses and $ 400 for other credit obligations), the debt ratio would be 35 % ($ 1,400 / $ 4,000 = 35 %). (mortgage-x.com)