Debt-to-income is every monthly debt payment divided by gross monthly income, measured before tax.

The 43 percent limit everyone quotes was removed from the US General QM definition and replaced with price-based thresholds.

Canada caps insured mortgages at 39 percent gross debt service and 44 percent total debt service.

To cut your ratio fastest, clear the debt with the biggest monthly payment, not the biggest balance.

Read the full guide

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