AppMarketSpy › Finance › Debt To Income Calculator
★ 2.80average rating
5ratings
+0new ratings, last 7 days
—not in top charts now
Ratings breakdown
| ★★★★★ | 40% | |
| ★★★★ | 0% | |
| ★★★ | 0% | |
| ★★ | 20% | |
| ★ | 40% |
🔒 Rating history22 days of daily rating and rating countGet Pro access
App info
- Developer
- Rukshan Marapana
- Category
- Finance, Business
- Released
- Dec 7, 2018
- Version
- 1.2 (Sep 3, 2023)
- Price
- $2.99
- Size
- 10.7 MB
- Requires
- iOS 11.0
- Age rating
- 4+
- Languages
- English
In-app purchases
noneCurrent prices, App Store US.
🔒 Chart rank history21 chart positions recorded, every 3 hoursGet Pro access
About Debt To Income Calculator
This app was designed to aid you to determine how much debt you could afford compared to your existing income. This app will tell you the ratio between your current income and debt. What is a debt-to-income ratio? Debt to income ratio (DTI) is the amount of your total monthly bills divided by how much money you make a month. It allows lenders to determine the likelihood that you would be able to repay a loan. For instance, if you pay $2,000 a month for a mortgage, $300 a month for an auto loan and $700 a month for the rest of your bills, you have a total monthly debt of $3,000. If your gross monthly income is $7,000, you divide that into the debt ($3,000 / 7,000) and your debt-to-income ratio is 42.8%. Most lenders would like your debt-to-income ratio to be under 35%. However, you can receive a qualified mortgage with as high as a 43% debt-to-income ratio. According to the Federal…
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