Use Mathcrave AI Tutor below, get clear guides and understandings on income, expenses and factors contributing to low or high income ratio
About The Income Calculator
The debt-to-income calculator calculates the debt-to-income ratio. With the right financing, you can afford to buy a new car, get your student loan paid off, or simply afford to take a vacation. Discover how you can save money and live within your means with this simple, but thorough tool.
Debt to income ratio is a financial ratio that compares the amount of debt a person has to the amount of income he or she has. It can help you determine whether you are in danger of losing your home or going into bankruptcy.
How it works
- Step 1: Enter your gross (before taxes) annual salary
- Step 2: Enter any additional sources of income such as alimony or Social Security benefits.
- Step 3: Enter the minimum credit card payment made and your total car loan payment