Question
1)Assume you are interested in purchasing a $350,000 house with the following characteristics: 80% Loan to Value Loan @ 4% interest (30yr, fully amortized) Property
1)Assume you are interested in purchasing a $350,000 house with the following characteristics:
80% Loan to Value Loan @ 4% interest (30yr, fully amortized)
Property taxes = 1.2% of purchase price per year
Homeowners Insurance = $1,000/yr
Homeowners Association Dues = $200/mo
Payment-to-Income Ratio = 28%
Total Obligations-to-Income Ratio = 35%
A.How much do you have to earn to afford this house (assuming zero consumer debt)
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Data Analytics for Accounting
Authors: Vernon Richardson
1st edition
1260375196, 9781260375183 , 978-1260375190
