1.What is the LTV and Housing and Debt Ratio in the following case? Ms Smith is purchasing...
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1.What is the LTV and Housing and Debt Ratio in the following case?
Ms Smith is purchasing a single home for $250,000.She has $70,000 for a down payment.The mortgage is for 30 years.The mortgage rate is 6% fixed.The homeowner pays $775 (annually) for homeowners insurance.The real estate taxes are 1,800 annually. The home appraised at $240,000.Her annual salary is $78,000 .She had a student loan which she pays $250 monthly.Her car is $525 a month and she has one credit card which requires a monthly payment of $75.
2.Describe the three approaches to value and give examples of the property type for which each would be most applicable.
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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