Debt to Income Ratio: Loans and Credit Cards / Gross Income

I'm Bo Majors
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  I used a lot of the information you provided and was able to raise my score from 571 to 671 in 2 1/2 months. Thanks Bo

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We must have 3 - 6 open car/home loans/credit cards to improve credit scores! It's not enough to pay off collections charges offs & bills. We MUST have current open rated credit (12 mo's reported to bureaus within the last 1 - 2 yrs) Get good credit BELOW
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The definition of debt to income ratio:
Totally amount of reported  to a bureau debt plus housing / divided by the total GROSS income.
 
 If have 3 credit cards for 300 a month total and one car loan for 400 and your rent is 750. That would be 1450 per month. 
 Now take your total gross income and divide that into the 1450. Lets say you make 4000 per month.

1450 / 4000 = .3625 or 36 percent 
Most lenders will want your debt to income ration to be lower than 45 percent.
If your go over 45 percent you will be turned down.

• Debt to income ratio 45%. 

• You should have no more than 44% reported monthly payment obligations to gross monthly pay. 

• If your debt to income ratio is higher than 45 percent or gross monthly pay you will be turned down no matter how good your credit score is

• .debt to income ratio to qualify for a car loan

DEBT TO INCOME RATIO
 I can be turned down for "debt to income ratio" which has 50% to do with my credit.
 My reported monthly debt is must be less than 45% of my, "show me the stub" or, "two years tax returns" gross not net.

This is why credit card companies who grant "unsecured credit" are careful at first.

I have a lot of open credit I am not using and I am going to consolidate to 2 or 3 credit cards and a debit card. I am shooting for credit cards in the 40k total available and owe less than 10%. Right now I have about 8 or 9 cards. Before the year runs out I am going back to 2-3 cards, house loan, car loan, maybe 1 more, and all that food, water, venison wireless, electricity, gas and gas.

Question #2
 I have a arm coming due in July 08
this is what I have

1 mortgage never late for 3 years
1 mortgage ( rental property never late 3 years )
1 major credit card 3000.00 limit owe 1200.00
1 truck haven't been late in 3 years ( 4 more payments to go)
1 new truck ( 6 months never late)
bankrupt. 9 years ago
although I got a lot of things deleted a lot of credit card judgments my trans union score is 698, don't know husbands yet, waiting to pull his what kind of loan should I look for or will I even qualify for a loan to refinance? I am worried sick I have 6 months to go, trying so hard to reach 700 on fico, everyone says no new credit something about dept to ratio, the rental property is rented and I have a lease to show the mortgage company. thanks
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if they are turning you down for a debt ratio it would be a DEBT TO INCOME ratio.
The score is so high it must be dept to income ratio.
No more than 45% owed per month against total gross monthly check stub tax return income.
Past 2 years if self employed
DEBT TO INCOME RATIO
looks like your open credit is very good and your score reflects that 698
I would dispute some of the older paid items and hope?
A 698 SHOULD get you whatever you want.
2 more points might help you a percentage point or less, but not much difference is there.

so dispute some old stuff
maybe pay the remaining four payments on the truck
other than that? you look good

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