Question
I'm very unsure how to go about this. Plz show me how this is done. This is an example. Thank you Simply pre-qualifyyourselffor a house.
I'm very unsure how to go about this. Plz show me how this is done. This is an example. Thank you
Simply pre-qualifyyourselffor a house. Use house expense ratio of35% max and total debt ratio should not exceed 43% of gross income. Assume a 10% down payment.Base income and expense items on reasonable job and expense assumptions after graduation. See, for example, "qualifying the borrow" powerpointsin Chapter 8. Provide, one page typed analysis: must include: 1. housing expenses, 2. total debt expenses, 3. expected house price, 4. down payment, 5. loan amount (and loan assumptions, n, int rate, etc.).And, how does this house price fit within your area you would like to move to.
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