It's GROSS monthly income. However, there are two debt-to-income ratios often used by lenders. Most lenders look at monthly house payment (including loan payment, taxes, and ins.) will not exceed 28 percent of GROSS monthly income. The second ratio used in connection to the 28% debt to equity ratio is known as overall debt ratio. Your total monthly expense including housing, credit card minimum payments, loans, and all other debts should fall below 36% of gross monthly income.