Debt to Income Calculator
24% or less: A good place to be, especially for those who are seeking approval for a mortgage. A ratio higher than 27% decreases the likelihood of being approved for a home mortgage.
25%-35%: If you already have a home mortgage, this is not unusually high. However, things could quickly spin out of control quickly due to a medical hardship or some other unforeseen cost. Avoid racking up more debt, and postpone that new vehicle purchase., and put off that new vehicle purchase.
36%-45%: You could be on pace to be in debt for many years. Limit expenses and purchase only necessities. If you don’t immediately take control of your situation and reduce your debt, you could be headed for financial disaster.
46% or more: Aggressive debt reduction is necessary to avoid bankruptcy.