Inputs: Purchase Price = $200,000, Down Payment = $10,000 (5%),

Start Interest Rates = 4%, Loan Term = 30 years, Monthly Liabilities = $450 (car loan),

Under Monthly Housing Expense input Real Estate Taxes + $3,000 annually, Hazard Insurance = $800 annually, Dues or Fees = $0. Click “Calculate”. Click “View Report”.

What is the required annual income required for a 4% loan? ___________

What is the required annual income required for a 5% loan? ___________

What is the Private Mortgage Insurance (PMI) monthly payment?

Change the loan term to 15 years, keeping all other amounts the same.

What is the required annual income required for a 4% loan? ___________

What is the required annual income required for a 5% loan? ___________

From the report can you provide the maximum debt to income ratio for the PITI (Principal, Interest, Taxes, Insurance)?

D/I = ____%

Answer rating: 100% (QA)

1 The required nnul inme required fr 4 ln fr ln term f 30 yers is 52875 2 The req... View the full answer