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How do I figure out the Mortgage Debt Ratio and Total Debt Ratio. I am lost on this assignment and not sure if I have
How do I figure out the Mortgage Debt Ratio and Total Debt Ratio. I am lost on this assignment and not sure if I have the information right. Any help would be wonderful.
MAN222 WEEK 3 ASSIGNMENT Mortgage Calculator Worksheet Category Purchase Value 5% Downpayment Mortgage Loan Loan term Loan fixed rate Mortgage, per month Type 1 Mortgage Type 2 Mortgage $250,000.00 $12,500.00 $483,141.00 30 years 4.0% $1,133.86 Property Tax, per month $72.33 Insurance, per month $60.00 Total Monthly Payment Total Interest $1,287.05 $2,331,141.00 Debt-to-Gross Income Ratio Monthly mortgage debt Other monthly debt Total monthly debt Mortgage debt ratio Total debt ratio $1,133.86 $500.00 $1,633.86Step by Step Solution
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