Welcome to Joe Knows Mortgages MINUTE, where we answer your mortgage questions.

On this week’s Joe Knows Mortgages MINUTE, we answer the question:

What is debt to income ratio?

If you are reading about qualifying for a mortgage online, or speaking with someone in the real estate or mortgage profession, you may hear the term Debt to income ratio.

This is a typically reviewed by a lender as one of the means to see if you can repay your loan.� If you add up all of your monthly debt obligations (these could include minimum credit card payments, student loans, car/truck payments, and basically anything monthly reoccurring payment that would show up on a credit report), and divide that by the amount of gross monthly, document-able income, you will get your debt to income ratio.

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