Question: Even though Marly had a pre - approval certificate she knows that she still must go through the financing steps to ensure that she can

Even though Marly had a pre

-

approval certificate she knows that she still must go through the financing steps to ensure that she can purchase the condo. The bank asked her to bring in some information to calculate her financial ratios. Marlys gross annual income is $

91, 400 .

The condos monthly heating costs would be $

420,

while the annual property taxes would be $

3, 130,

along with monthly condo fees of $

250 .

Marly has debt of $

522

per month for her car loan. Calculate her Gross Debt Service

(

GDS

)

ratio using a monthly mortgage payment of $

1, 555 .

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