Blog posted On September 11, 2018
If you’re struggling to qualify for a personal loan, your debt-to-income (DTI) ratio could be to blame.
Your DTI, often expressed as a percentage, compares your debt payments with your gross income each month. Loan companies look closely at your DTI before approving your application.
If the ratio is high, lenders take it as a warning sign that you might not be able to repay what you owe. Plus, a high DTI could make it difficult for you to cover living costs or save for the future.
Find out how your DTI can impact not just your loan applications, but also your daily life. Then, consider the six creative strategies for lowering your debt-to-income ratio.
Read more at MarketWatch.com.