Question: red Question 7 0 / 4 pts You are looking to purchase a $383,000 home with a 80% LTV mortgage with a term of 30-years

red Question 7 0 / 4 pts You are looking to purchase a $383,000 home with a 80% LTV mortgage with a term of 30-years and an interest rate of 6%. Your income is $96,000 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 back-end DTI ratio associated with this borrower/loan? Please input your answer as a percentage (74% would be input as 74). wered

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!

red 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...

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...

Making changes to a firm's credit policy involves trade-offs. Assuming that all other factors remain constant, which of the following are outcomes expected to result from an increase in a firm's cash...

In late 2019, a novel coronavirus was causing infections in China. The virus had close virological characteristics to the coronavirus that caused SARS (SARS-CoV) and was named SARS-CoV-2. Even though...

I need you guy accurate answer. Thank you so much. omitted Jul 17 at 2:45am s attempt took 27 minutes. orrect Question 1 0 / 1 pts All of the following are examples of acquisition costs of durable...

Dear Dr Fids, Can you please help these questions? It is about MBS cash flow. R Generating MBS cash flows can be messy so we are going to write some functions in R that allows us to generate the cash...

Question 1 1 pts A biweekly mortgage: Group of answer choices has one rate adjustment after a set period, such as five years increases at regular intervals, with the increased payments used to pay...

Need help figuring out problem #40, #42, and #45 in the attached document. I have the answers for the problems, but need to see how they are worked out. FIN 142 - Real Estate Finance Problem Set 2 1....

I need an expert for this. please check info for details. For exclusive use Florida International University, 2015 REVISED SEPTEMBER 6, 2013 CRAIG FURFINE KEL757 The Return of the Loan: Commercial...

I need your help in this. today. will be your client. For exclusive use Florida International University, 2015 REVISED SEPTEMBER 6, 2013 CRAIG FURFINE KEL757 The Return of the Loan: Commercial...

A temporary endocrine gland in the human body is: (a) Corpus allatum (b) Pineal gland (c) Corpus cardiacum (d) Corpus luteum

The percentages of women and men who have high blood pressure are shown in Table 79 for various age groups. Let W and M be the percentages of women and men, respectively, at age a years who have high...

Outline the assumptions which underpin the dividend growth model. ( 5 marks ) c ) Discuss the main considerations which a company must take into account when deciding how to invest short term surplus...

Draw a class diagram and its relationship based on the following statements. You can use any UML tool/software to represent your class diagram. Do NOT copy and paste your diagram, use the attachment...