Question
Hi can someone assist me, I keep getting the wrong answer. 1) Jim has an annual income of $185,000. Jim is looking to buy a
Hi can someone assist me, I keep getting the wrong answer.
1) Jim has an annual income of $185,000. Jim is looking to buy a house with monthly property taxes of $140 and monthly homeowners insurance of $70. Jim has $178 in monthly student loan payments.
Apple bank has a maximum back end DTI limit of 28%. Given the back end DTI constraint, what is the most they will allow Jim to spend on a monthly mortgage payment?
2)
Jim has an annual income of $185,000. Jim is looking to buy a house with monthly property taxes of $140 and monthly homeowners insurance of $70. Jim has $178 in monthly student loan payments.
Apple bank has a maximum front end DTI limit of 28% and a maximum back end DTI limit of 36%. Given both limits, what is the most they will allow Jim to spend on a monthly mortgage payment?
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Foundations Of Personal Finance
Authors: Sally R. Campbell, Robert L. Dansby
9th Edition
1619603578, 9781619603578
