👉 Sorry for the confusion. Let's clear this up:
Slang Word: Mortgage to Income Ratio Calculator Definition: This term refers to a hypothetical calculation that estimates the value of a mortgage (the loan from which income is generated) based on how much income a borrower earns per month, and then calculates what portion of their monthly salary they can realistically use to pay off the mortgage. Example Sentence: "Since she makes $40,000 per month, we can calculate that she has about 10% of her gross earnings (income) as a mortgage payment."
