Suppose you want to move out of your apartment and buy a small house. Let s assume
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Question:
Suppose you want to move out of your apartment and buy a small house. Lets assume that your
income is $ a year, your student loans cost $ per month, and your car payment is $ per
month. You only use your credit card for gas and pay off about $ monthly. You used an online
loan payment calculator and determined the house payment will be $ per month. Round answer to
the nearest whole percentage point, where necessary. What is your FrontEnd DTI ratio?
b What is your BackEnd DTI ratio?
c Is the bank likely to lend you the money to buy the house?
d What should your total monthly payments be to keep you in line with the BackEnd DTI limit
stated by Bankrate above?
e How much lower should your house payment be to stay within this limit
Related Book For
Marketing The Core
ISBN: 978-0078028922
5th edition
Authors: Roger A. Kerin, Steven W. Hartley, William Rudelius
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