Sentences with phrase «divided by their gross monthly income»

Debt - to - income ratio (how much you owe in monthly debt payments divided by your gross monthly income)

Your debt - to - income ratio equals your total monthly debts divided by your gross monthly income.

Then, take that amount and divide it by the gross monthly income.

The top number is determined by the new mortgage payment (including principal, interest, taxes and insurance) divided by your gross monthly income.

This is to say your proposed mortgage payment (principal, interest, taxes and insurance) divided by your gross monthly income.

This is your gross monthly payment including Mortgage PITI divided by your gross monthly income.

Debt - to - Income Ratio — A ratio expressed as a percentage that depicts a borrower's monthly mortgage payment divided by their gross monthly income.

This is a representation of all your monthly debt payments divided by your gross monthly income.

You can't get new credit To decide if they'll extend you credit, a company will usually look at your credit report to calculate your debt - to - income ratio (This equals all your monthly debt payments divided by your gross monthly income).

The guidelines also include repayment viability based on P.I.T.I (Principle, Interest, Taxes, and Insurance) divided by gross monthly income being less than 29 %.

Total debt divided by gross monthly income must also be equal to or less than 41 %.

2) HOUSING ONLY RATIO This is your total monthly housing expense (principle, interest, tax, insurance, and PMI and homeowners dues, if applicable) divided by your gross monthly income («gross» = pre-tax income).

Your debt - to - income ratio equals your total monthly debts divided by your gross monthly income.

There is also a front end ratio, which is the new house payment only divided by the gross monthly income.

Your backend DTI ratio is calculated by taking your major monthly debts (many of which will be found on your credit reports) and dividing it by your gross monthly income.

The FHA looks at two separate ratios: 1) Mortgage Payment divided by Gross Monthly Income, and 2) Total Fixed Payment divided by Gross Monthly Income.

To find this percentage, add up all of your existing monthly debt and divide it by your gross monthly income.

This typically means having a credit score of 620 or above, a debt - to - income ratio of 50 % or less (i.e. the sum of all your debt payments, including housing, divided by your gross monthly income), and a loan - to - value ratio on your home of 80 % or less after the cash out refinance is complete.

Your total monthly debt payments (for example: loans, credit cards and court - ordered payments) divided by your gross monthly income before taxes and expressed as a percentage.

The second is called the back - end, or bottom ratio, and is equal to your new total monthly mortgage payment plus your total monthly debt divided by your gross monthly income.

Your DTI ratio is your minimum monthly debt payments divided by your gross monthly income.

The guidelines also include repayment viability based on P.I.T.I (Principle, Interest, Taxes, and Insurance) divided by gross monthly income being less than 29 %.

To calculate your front - end DTI ratio, a lender will add up your expected housing expenses and divide it by your gross monthly income (income before taxes).

To calculate your back - end ratio, a lender will tabulate your expected housing expenses and other monthly debt payments and divide it by your gross monthly income (income before taxes).

The latter takes your monthly debt payments and divides them by your gross monthly income.

Not exact matches

Lenders calculate DTI by dividing your total monthly debts by your gross monthly income.

The lender will find this ratio by adding your monthly debt payments and then dividing that number by your gross monthly income.

This figure is your total minimum monthly payments — including your hypothetical mortgage payment — divided by your monthly gross income.

This ratio is found by dividing your projected monthly mortgage payments by your gross monthly income (your income before taxes).

DTI is calculated as your total monthly debt payments divided by monthly gross income, so a lower DTI indicates better financial health and reduces the mortgage rates you'll be offered.

Next, determine your monthly gross income by dividing your pre-tax salary by 12.

Your debt - to - income ratio is calculated by taking your monthly liabilities (e.g. car loan payments) and dividing them by your gross (pre-tax) monthly income.

To calculate your maximum monthly debt based on this ratio, multiply your gross income by 0.36 and divide by 12.

VA underwriters divide your monthly debts (car payments, credit cards and other accounts, plus your proposed housing expense) by your gross (before - tax) income by to come up with this figure.

The ratio is calculated by dividing your monthly debt payments by your monthly gross income.

Then, divide the number that represents your total monthly obligations by your gross monthly income.

Then, divide this number by your gross monthly income (what you make before taxes and other deductions are taken from your paycheck).

They divide your monthly payments for all obligations by your gross monthly income in order to arrive at two sets of figures.

DTI is the projected monthly payment, divided by your monthly gross income.

The debt to income ratio equation divides your monthly debt service payments by your monthly gross income.

You simply divide your total recurring monthly debt by gross monthly income.

Divide all of his credit - reportable monthly bill payments by his total monthly gross income.

This percentage divides the expected monthly payment by the applicant's gross monthly income.

A debt to income ratio is calculated by dividing your monthly debt by your monthly gross income.

Your debt - to - income ratio can be calculated by dividing your monthly debt payments by your gross monthly income.

It is the ratio of our monthly debt payments (credit cards, auto, student and personal loans, store credit accounts and any loans you co-signed) divided by your gross income.

The next step is to divide your total monthly payment by your gross monthly income and multiply by 100.

Divide $ 1,601 by your gross monthly income.

They add up these numbers and then divide by your monthly gross income.

This ratio is calculated by dividing the amount of your monthly debt obligations by your gross monthly income.