Front and Back Mortgage Ratios Tool – Debt to Income Ratio

Debt-to-Income Mortgage ratios are important for the mortgage approval process. Mortgage ratios come second only to your credit report as the most important factor an underwriter will look at when reviewing a loan application. Mortgage ratios are frequently referred to as Front and Back Mortgage Ratios and are expressed as “24/32”. The first or front mortgage ratios are your total monthly (principal, interest, taxes, and insurance) housing expense divided by your total monthly income. The second, back mortgage ratio is your total housing expense plus all other monthly debt divided by your total monthly income. For ratio calculation purposes, credit card debt uses the minimum monthly payment. Also, if you have installment debt (car payment) with less than 10 months remaining, that debt can be ignored for qualification purposes.

The mortgage ratios tool can be purchased and downloaded in Microsoft Excel for only $6. Please follow the link below to purchase this tool. Following your payment, you will be emailed the tool in Excel.

  Yearly Household Income Front Mortgage Ratio
  Home Price Back Mortgage Ratio
  Amount Down On Home    
  Mortgage Interest Rate    
  Mortgage Term In Years    
  Home Taxes    
  Home Insurance    
  Car Payments If Any    
  Credit Card Debt If Any    
  All Other Debt If Any    
  Mortgage Amount    
  Mortgage Payment    

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