 TITLE: Does Income Affect Credit Scores? CONTENT: How Your Income and Debt Can Impact Getting Approved for Credit\n---------------------------------------------------------------\nWhile low or reduced income does not influence your credit score, there are other ways it can affect your ability to qualify for loans or credit.\nEven if your credit score qualifies you for consideration for a particular loan or credit card offer, many lenders require proof of income, in the form of a pay stub or tax return, as part of their application process.\nIn addition, lenders typically consider the percentage of your monthly income (before taxes and other withholding) that you spend on debt payments—a measurement known as debt-to-income (DTI) ratio—when evaluating mortgage applications. Typically, to qualify for a mortgage loan, your DTI ratio should be no greater than 43%, and many lenders require DTI ratios of 36% or less.\nIncome isn't tracked in your credit reports, so it cannot influence your credit scores. To the extent a steady income enables you to keep up with your debt payments and to use credit responsibly, income is important to building and maintaining healthy credit scores. END