| WORKSHEET 5.1 - Debt-to-Income Ratio Calculations |
| Step 1: List ALL your monthly income in the appropriate spots, or change the categories if necessary. |
| Step 2: List ALL your monthly debt payments. |
| Step 3: Copy totals for Monthly Income and Debt to the second column. |
| Step 4: Divide Monthly Debt by Monthly Income to compute your Non-housing Debt-to-Income Ratio. |
| Step 5: Divide Housing Payment by Monthly Income to compute your Housing Debt-to-Income Ratio. |
| Step 6: Divide Total Debt by Monthly Income to compute your Total Debt-to-Income Ratio. |
| Monthly Income | | | | Debt to Income Ratio (Calculated) |
| | You | Spouse |
| Salary / Wages | | | | Monthly Debt Payment | $0.00 |
| Social Security | | | | (divided by) |
| Military Pay | | | | Monthly Income | $0.00 |
| Pension / Retirement Income | | | | (equals) |
| Bank and Investment Interest | | | | Non-housing Debt-to-Income Ratio | ERROR:#DIV/0! |
| Alimony / Child Support |
| Rental Income | | | | How do you measure up for creditors? |
| Unemployment | | | | less than 10% | Great Shape |
| Food Stamps | | | | 10 - 20% | Good Credit Risk |
| Royalties | | | | 20 - 35% | Questionable Credit |
| Student Grant Monthly Draw | | | | 35% or Higher | High Credit Risk |
| Other |
| Other |
| | | | | Monthly Housing Payment | $0.00 |
| Total Income | $0.00 | | | (divided by) |
| | | | | Monthly Income | $0.00 |
| | | | | (equals) |
| Outstanding Debt Payments (Monthly) | | | | Non-housing Debt-to-Income Ratio | ERROR:#DIV/0! |
| Credit Card {Payments | | |
| Student Loans | | |
| Car Payments | | | | Total Debt | $0.00 |
| Recreational Vehicle / Boat Payments | | | | (divided by) |
| Bank/ Credit Union/Loan payments | | | | Monthly Income | $0.00 |
| Medical Dental Bill Payments | | | | (equals) |
| Computer / Electronic Bill Payments | | | | Debt-to-Income Ratio | ERROR:#DIV/0! |
| Furniture and Appliance Payments | | | | Goal <= 36% |
| Other Credit Loans or Accounts |
| Other Debt Payments | | | | | |
| Other Debt Payments | | | | | |
| | | | | | |
| Total Monthly Payments | $0.00 |
moshmosh
worksheets_5.1.xlsx
