Business, 27.01.2020 18:31 tramqpham25

Which of the following ratios is used to determine ones debt-to-income ratio?
a. 20/28
b. 20/36
c. 28/30
d. 28/36

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The following ratios used to determine ones debt-to-income ratio is : d. 28/36

These ratios mean that a person have enough income to handle all of his/her debts. People who involved themselves in the world of finance known as the 28/36, which stated that someone should spend maximum of 28% of gross income on total housing expense and maximum 36% on total debt service

Answer from: jimennacastillo15

Answer from: smithsavannah295

d. 28/36

Explanation:

A person's debt-to-income can be calculated by dividing all his/her monthly debt payments by the gross monthly income. This number can be used for determining your ability to manage your monthly payments to repay the money you plan to borrow.

In general, 43% is the highest DTI ratio a borrower can have and still get qualified for a mortgage, but lenders prefer a ratio lower than 36%, with no more than 28% of that debt going towards servicing a mortgage or rent payment. Thus, someone should spend at most 28% of his/her gross income on total housing expense and maximum of 36% on total debt service.

Answer from: Lovebamagirl12

d. 28/36

Explanation:

Answer from: Quest

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Answer from: Quest

answer; the above statement/question is ( true);

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Which of the following ratios is used to determine ones debt-to-income ratio?
a. 20/28
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