If you were declined and High Debt-to-Income (DTI) + High Utilization was cited as the reason, it may be because you currently have too much debt compared to the amount of income you earn each month.

To improve your DTI ratio, consider:

• Paying more than your minimum on monthly debt payments
• Avoiding taking on more debt than what you already have
• Finding ways to increase your income with an alternate side hustle or part-time job
• Keeping your budget tight and curbing any extra spending

You can calculate your DTI ratio with our DTI calculator here. If you’d like to learn more about your DTI ratio and how you can lower yours, give our article What is Debt-to-Income Ratio? a read.

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