Debt-to-income ratio is one of the main numbers lenders look at when deciding whether to approve a mortgage or loan — and self-employed applicants are often scrutinized on it more closely, since income can look less predictable on paper than a salary. It’s worth knowing your own number before you apply anywhere.
Debt-to-income ratio
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For monthly gross income, self-employed applicants are usually assessed on an average of the last two years’ net profit rather than a single strong month, so use a realistic average rather than your best month when running this. Pair this with the mortgage calculator if you’re specifically evaluating a home purchase.