Enter the monthly mortgage payment ($) and the monthly income ($) into the Mortgage to Income Ratio Calculator. The calculator will evaluate and display the Mortgage to Income Ratio. 

Mortgage to Income Ratio Formula

The following formula is used to calculate the Mortgage to Income Ratio. 

MIR = MP / MI 

  • Where MIR is the Mortgage to Income Ratio (mortgage:income)
  • MP is the monthly mortgage payment ($) 
  • MI is the monthly income ($) 

How to Calculate Mortgage to Income Ratio?

The following example problems outline how to calculate Mortgage to Income Ratio.

Example Problem #1:

  1. First, determine the monthly mortgage payment ($). 
    • The monthly mortgage payment ($) is given as: 2,000.
  2. Next, determine the monthly income ($). 
    • The monthly income ($) is provided as: 5,000.
  3. Finally, calculate the Mortgage to Income Ratio using the equation above: 

MIR = MP / MI 

The values given above are inserted into the equation below and the solution is calculated:

MIR = 2,000 / 5,000  = .40 (mortgage:income)

Example Problem #2: 

For this problem, the variables required are provided below:

monthly mortgage payment ($) = 3,000

monthly income ($) = 10,000

Test your knowledge using the equation and check your answer with the calculator above.

MIR = MP / MI  = ?