Asked by Yay

The debt-to-income (DTI) ratio of a borrower is used to compare _____ to the borrower’s gross monthly income.
a.
monthly credit expenses (credit cards and loans)
b.
monthly debt expenses from loans (home, personal, auto, student)
c.
monthly housing expenses (rent or mortgage, homeowner’s insurance, property tax, utilities)
d.
monthly living expenses (rent or mortgage, property tax, mortgage insurance, minimum credit card payments, and monthly loan payments)

All Answers 1

Answered by GPT-5 mini AI
d. monthly living expenses (rent or mortgage, property tax, mortgage insurance, minimum credit card payments, and monthly loan payments)

Explanation: DTI compares a borrower’s total monthly debt obligations (housing plus other debt payments) to gross monthly income (back-end DTI).