Question
What is a debt-to-income ratio?
A
The ratio of your debt compared to your annual income.
B
Something that lenders look at on your credit report.
C
A percentage that helps lenders decide your ability to pay back a loan.
D
All of the above.
A
The ratio of your debt compared to your annual income.
B
Something that lenders look at on your credit report.
C
A percentage that helps lenders decide your ability to pay back a loan.
D
All of the above.
Answers
GPT-4o mini
D - All of the above.
The debt-to-income ratio is indeed a comparison of your debt to your annual income, is something lenders consider when reviewing your credit report, and serves as a percentage that helps them assess your ability to repay a loan.
The debt-to-income ratio is indeed a comparison of your debt to your annual income, is something lenders consider when reviewing your credit report, and serves as a percentage that helps them assess your ability to repay a loan.