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Assume monthly Principal and interest on a mortgage loan is 5635 ; monthly Tax and insurance payments is 5125 ; monthly student loan payment is
Assume monthly Principal and interest on a mortgage loan is 5635 ; monthly Tax and insurance payments is 5125 ; monthly student loan payment is $350; borrower gross monthly income is $2,500. Assuming that the maximum back-end ratio used in underwriting mortgage is 36%, what is the maximum loan amount this borrower can borrow? Assume the current interest is 79,30 -year loan. 561220.49 Bo3e60 72 360210.56
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