Question: Please ANSWER ALL THREE QUESTIONS and only answer no need for explanation, thanks 1 - A prospective borrower is considering applying for an FHA-insured mortgage

Please ANSWER ALL THREE QUESTIONS and only answer no need for explanation, thanks

1 - A prospective borrower is considering applying for an FHA-insured mortgage loan. The borrower has an estimated monthly housing expense of $1,486. His total monthly obligations are $2,050. If the borrower's gross income is $98,400, what is his monthly housing expense ratio? (Round the answer to the nearest whole percentage point?

A) 18%

B) 25%

C) 15%

D) 30%

2 - A developer purchased two 180-front foot lots for $33,500 net each and divided them into three 120-foot lots. The developer sold the lots for $250 per front foot. Calculate the developer's percentage of profit (round answer to nearest whole percent?

A) 10%

B) 34%

C) 15%

D) 20%

3 - Calculate all applicable documentary stamp taxes and intangible taxes associated with financing the transaction for a property located in Minella's County.

Purchase price: $67,550

Earnest money: $4,000

Recorded first mortgage (assumed): $27,800

Second mortgage (new): $14,700

Cash at closing: $21,050

A) $326.90

B) $178.15

C) $233.75

D) $ 80.85

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