Sentences with phrase «increase gross monthly income»
There are two ways you can improve your DTI ratio — either by reducing your recurring debt, or by increasing your gross monthly income.
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On a mortgage of $ 225,000 and a gross income of $ 90,000, a one percentage point increase would increase monthly payments by $ 115, equivalent to 1.5 per cent of income.
As I write this my wife is 5 months into the coaching program and has increased her monthly gross income by $ 2,376 / month on average since March.
Regardless of the actual education debt amount, negative feelings about education debt increase as the percentage of gross monthly income spent on education loan payments increases.»
Also, if other personal debts exceed 8 percent of one's given monthly gross income, this may increase the salary needed to qualify.