Back-end ratio or back ratio
Back-end ratio or back ratio
The back-end ratio is the percentage of an individual's (or household's) pre-tax, monthly income that is used to pay monthly debt obligations. Debt obligations include the mortgage payment, real estate taxes, mortgage insurance and all credit account payments, including credit cards and car loans. The ratio is calculated by adding up the debt obligations and dividing the sum by the pre-tax monthly income.
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National Rates
| Loan Type | Today |
|---|---|
| 30 yr fixed | 4.83 |
| 15 yr fixed |
4.39 |
| 5/1 ARM | 3.69 |
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