How Do You Calculate Your Debt-to-Income Ratio for Mortgage Eligibility?

Calculating your debt-to-income ratio is crucial for mortgage eligibility. Aim for a ratio of 43% or lower. Ensure your mortgage payment (front ratio) is at least 28% of your income. For example, a $2,800 mortgage requires a $10,000 monthly income. Your total debts (back ratio) should be at most 43% of your income. #MortgageEligibility #DebtToIncomeRatio #FinancialPlanning #HomeBuyingTips #FrontRatio #BackRatio