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6 Phil Simms is purchasing a rental property and his loan file contains an executed lease for the subject property of $1000 per month. The
| 6 | Phil Simms is purchasing a rental property and his loan file contains an executed lease for the subject property of $1000 per month. The appraiser has provided a Comparable rent schedule with market rent of $900 per month. What is monthly income can be used to qualify the borrower for the loan after the vacancy factor? | ||||||||
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| 7 | Barry Sanders, a retirement age borrower has applied for a loan using his $1500 per month Social Security and $1000 per month Pension income. The Social Security is not taxable according to his most recent 1040s, while the Pension is taxed at a marginal rate of 10%. What is the maximum income allowed to be used in qualifying? | ||||||||
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Personal Finance In A Public World How Technology Social Media And Ads Affect Your Money Decisions
Authors: Bob DePasquale
1st Edition
1637306652, 978-1637306659
