TeachMeFinance.com - explain Debt-to-income ratio
Debt-to-income ratio -- a comparison of gross income to housing and non-housing
expenses; With the FHA, the-monthly mortgage payment should be no
more than 29% of monthly gross income (before taxes) and the mortgage
payment combined with non-housing debts should not exceed 41% of
About the author
Copyright © 2005 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional financial or legal advice. TeachMeFinance.com and its owner recommend consultation with a professional financial advisor prior to any investment or financial decision. Please read our disclaimer.