Your monthly salary is $60,000 and you are applying for a 30-year mortgage for a self-use...
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Your monthly salary is $60,000 and you are applying for a 30-year mortgage for a self-use residential property (and assuming you do not have any other mortgage loans). What is the maximum loan (In Stress Test, assuming a amount you could borrow if the annual interest rate is 1.15% for the entire loan period and interest is 200-basis point hike in 1 compounded monthly? Assuming there is no MIP. interest rate) 234567 3 Your monthly salary is $60,000 and you are applying for a 30-year mortgage for a self-use residential property (and assuming you do not have any other mortgage loans). What is the maximum loan (In Stress Test, assuming a amount you could borrow if the annual interest rate is 1.15% for the entire loan period and interest is 200-basis point hike in 1 compounded monthly? Assuming there is no MIP. interest rate) 234567 3
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Ans The maximum loan amount you could borrow for a 30year mortgage at an annual interest rate of 115 ... View the full answer
Related Book For
South Western Federal Taxation 2016 Corporations Partnerships Estates and Trusts
ISBN: 9781305399884
39th edition
Authors: James Boyd, William Hoffman, Raabe, David Maloney, Young
Posted Date:
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