red nswered Question 8 0/4 pts You are looking to purchase a $300,000 home with a...

 

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red nswered Question 8 0/4 pts You are looking to purchase a $300,000 home with a 80% LTV mortgage with a term of 30-years and an interest rate of 6%. Your income is $120,000 per year, the annual property taxes are $3,600, and the hazard insurance premium is $1,200 per year. The borrowers other debt service consists of a $700/month car payment and $800/month credit card minimum payment. What is the front-end DTI ratio associated with this borrower/loan? Please input your answer as a percentage (74% would be input as 74). red nswered Question 8 0/4 pts You are looking to purchase a $300,000 home with a 80% LTV mortgage with a term of 30-years and an interest rate of 6%. Your income is $120,000 per year, the annual property taxes are $3,600, and the hazard insurance premium is $1,200 per year. The borrowers other debt service consists of a $700/month car payment and $800/month credit card minimum payment. What is the front-end DTI ratio associated with this borrower/loan? Please input your answer as a percentage (74% would be input as 74).

Answer rating: 100% (QA)

Step 1 Front end TDI ratio is maximum amount of monthly payment as percentage of monthly inco... View the full answer