Question: A buyer will be making blended monthly mortgage payments of $905.82 including principal and interests. The taxes on the property are $210.00 per month. With
A buyer will be making blended monthly mortgage payments of $905.82 including principal and interests. The taxes on the property are $210.00 per month. With a gross debt service ratio of 32%, what minimun annual gross income would the buyer have to earn to qualify for the motgage loan?
Step by Step Solution
★★★★★
3.39 Rating (168 Votes )
There are 3 Steps involved in it
1 Expert Approved Answer
Step: 1 Unlock
A GDS ratio is the percentage of your income needed to pay all of your monthly housing costs ... View full answer

Question Has Been Solved by an Expert!
Get step-by-step solutions from verified subject matter experts
Step: 2 Unlock
Step: 3 Unlock