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You can use this debt ratio calculator
to figure out if you might be at risk of being denied a loan. In
general, lenders apply certain rules when evaluating someone that has
applied for credit. In the mortgage industry, they use a rule of
32 which states that the total of all your monthly debt payments cannot
exceed 32% of your monthly income. When debt ratios approach 40%,
the chances of you being denied credit or a loan are high.
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in Debt Settlement by coze, 02-10-08 04:55
