Answer for "What is an overall debt ratio?"

Nancy  Finch real estate agent
  John Naumann & Associates

An overall debt ratio is the percentage of your overall debt (housing payments plus any other long-term debt) to your monthly gross income. Lenders use this ratio-sometimes called the back-end ratio-to see whether you qualify for a loan. Common overall debt ratios are 33 or 36 percent.

 

Need help from a real estate agent?


Buy Sell Rent

I agree to receive FREE real estate advice.

Are you a real estate agent?


Residential Rental Commercial

I agree to receive FREE real estate advice.


 

Have a question or comment? We're here to help.

 

*** Your email address will remain confidential.
 

Related Real Estate Questions

 

Related Real Estate Glossary Terms