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Debt-to-Income Calculator
Calculate your debt-to-income ratio
Your debt-to-income (DTI) ratio is a personal finance measure that compares your overall debt to your overall income. It’s calculated by dividing your recurring monthly debt payments by your monthly gross income, resulting in a percentage.
Your DTI Ratio
Debt-to-income ratio levels
<35->70%< 35%IDEAL> 70%
Your estimated debt-to-income (DTI) ratio is based on the information you provided and is for educational purposes only. A DTI of 70% or lower may indicate you could be eligible to be approved for a Best Egg loan, but it does not guarantee approval. All loan applications are subject to credit review and verification.
Lenders use this percentage to assess your ability to manage monthly payments and repay the money you want to borrow from them. Ultimately, it helps lenders determine how much money they’re willing to lend you. The lower your DTI ratio, the more likely you are to receive the loan amount you want because your low DTI ratio illustrates a good balance between debt and income (essentially, you don’t spend more than you can afford). Low DTI numbers typically indicate to lenders that you as a borrower are more likely to successfully manage your monthly payments with a new loan debt. A higher DTI ratio could be a red flag for lenders because it means you have too much debt for your income. To the lender, this means you may not be as able to meet the additional financial obligations from a new loan. Many lenders don’t approve big loans for borrowers with high DTI ratios for this reason. For the sake of your financial health, it’s crucial to keep your DTI ratio as low as possible. Determining your personal DTI ratio has never been easier – just use our simple debt-to-income calculator to quickly discover yours. While you can’t plan for the unexpected, knowing your financial status ahead of time can pave the way to a smoother borrowing process.
Find the type of loan that works for you
Understand the difference between unsecured and secured personal loans and how to decide which could be a good choice for you.
“I can’t thank you enough for approving my loan. I know my credit isn’t perfect, but I try to take my debts seriously. With this loan I’ve been able to completely pay off 3 of my lingering debts, and I’ll now have a lot more money to devote to my remaining few. Thank you!”
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