Using a DTI Calculator Helped Me Make a Better Decision

This is the year that I actively start moving my family towards a new home. The one we currently live us is full of memories that honestly, still bring us down a bit. It is beyond time for us to get into a space that makes us all happy and able to breath a bit. One day while sitting with Sam at the hospital I began doing some research while he slept. I needed to know what I could afford and what would work. That is where a DTI Calculator came in handy. Even though I had to google what that was if I’m being honest.

Now there are all sorts of calculators out there for you to check out for all sorts of things. I used this DTI Calculator because I felt that it was the one that made the most sense to me. I was able to entered my information and find out just what my debt to income (DTI) ratio is. It truly was the easiest tool to use.

You’re DTI ratio is actually made up of two components. The first being your total monthly obligations like mortgage payments. The second part is your total monthly income for all borrowers. The is a maximum limit that your lender will allow when it comes to your DTI ratio. I know this all sounds like a lot of information but using the calculator will help you put it all in perspective. In fact, in the screenshot above you can see how easy it is. I just put some random figures in so you could see, these are not my numbers at all.

How I Am Doing?

When I put all of my information in I also included my utilities and such in other monthly payments. For me, it helped me be able to look honestly at what I had goin gout versus what was coming in. I got a better overall picture. I know that my DTI ratio is under the 43% ratio that is recommend. I could afford a rather high mortgage payment if I was inclined.

I never thought much about my debt to income ratio before my brother bought his house and he kept talking about it. I knew that I needed to not have a huge payment that was more than I could afford. I didn’t know that banks or lenders looked at that either. Now, I know all about it and know I am in a good range.

That’s All I Get?

Knowing your numbers are important but you many need more. The DTI Calculator from Mortgage Calculators had more information under the calculator for me. There was information about improving my debt to income ratio among other information. I enjoyed that because it helped me understand what I was looking at and what I needed to be looking at better.

I could not be happier with the information that I got from using a DTI Calculator. I am able to see the debt I have versus what I earn and make an informed decision about what I can afford. I feel better having all the facts so when I make a decision I know I am making the right one for both me and my family.

WHAT ARE YOUR THOUGHTS ON DTI CALCULATORS? HAVE YOU USED ONE? WOULD YOU USE ONE? DO YOU HAVE QUESTIONS ABOUT THE ONE I USED? I WOULD LOVE TO ANSWER YOUR QUESTIONS AND HEAR YOUR THOUGHTS IN THE COMMENTS BELOW.