The Almighty Debt-to-Income Ratio.
Posted: June 19th, 2008 | Author: Joe | Filed under: Debt | Tags: Borrowing, Debt | 1 Comment »I stumbled onto a guest post about the Debt-to-Income Ratio over at MoneyNing today. It stuck out because it’s not something I’ve seen blogged about much. In fact, until I saw that post the only time I’d ever seen it referred to in a blog was when I wrote 4 Tips For Applying For a Mortgage.
I’m glad to see the topic as it is an integral part of applying for a loan – any loan - whether it be for a mortgage or car or personal loan.
The author does a good job of describing the ratio, and some things you can do to get yours in order.
[...] it will keep you from racking up even more debt. However, the lower credit limit will increase your debt-to-income ratio, and lower your credit [...]