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You current mortgage, all your credit cards, your auto payment, and your student loans all count toward your current debt. When calculating your debt to income ratio, lenders will add in the amount of the loan they are considering offering you, so not only your current debt, but also your debt after taking out the mortgage, should be under 40% of your monthly income. * Raise the percentage of credit you have available versus the percentage of credit you have used. The more credit you have available, and the less you have used, the better your score will look. Improving the ratio involves not only paying down your existing debts, but getting new credit if you can.