Mortgage Debt to Income Calculator

SouthState Bank debt to income ratio.

Taking on a mortgage in any phase of life is a significant financial step. Whether you feel you’re living comfortably or on a budget, it’s important to be aware your debt-to-income (DTI) ratio.

In short, your DTI ratio is how much you earn each month versus your monthly debt payments. The lower the percentage, the easier it is to pay bills and save for the future. A good rule of thumb is a maximum DTI of 43%.

Try our Debt-to-Income Calculator to find out where you stand. You will need to input your current expenses and income – including credit card debt, student loans, alimony, and retirement benefits – to calculate.

If your percentage is too high, you may be wondering “how do I improve my debt-to-income ratio?” You can either reduce your debt or increase your income. Consolidating high-interest debt into a lower cost loan is one option, as is picking up part-time work. You may also consider refinancing your car loan to a lower rate if available.

Talking with a local mortgage banker can help you map out the next steps to homeownership. They know the market and rates, as well as ways to save for a down payment and reduce costs. Find a SouthState mortgage banker in your neighborhood.

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