What does income to debt ratio mean when applying for a mortgage?
Does it mean total pre tax income or total after tax income?
What does the debt part include?
Does it include credit cards that I pay in full every month?
Does it include any utilities?
I don't have any other loans, no car payments, and I pay my credit cards in full as soon as I get the bill. Do I have any debts then?
Added (1). I put between $200-$250 on a credit card for gasoline each month. Is that considered in the income to debt ratio?
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