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Jim has $1,500 in monthly student loan payments and an average monthly credit card bill of $1,000. Apple bank has a maximum front end DTI

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Jim has $1,500 in monthly student loan payments and an average monthly credit card bill of $1,000. Apple bank has a maximum front end DTI limit of 25% and a maximum back end DTI limit of 35%. Jim will make the DTI limit. iggest mortgage payment he can that satisfies both the front end DTI limit and the back end Jim will get a fully amortizing 30 year FRM at an annual rate of 3.40%, with monthly payments, compounded monthly. What is the biggest mortgage loan Jim can get? A) $901,954.74 B) $1,014,699.08 C) $1,127,443.42 D) $1,578,420.79 ANSWER: A 92% LTV loan. The lender demanded that Sam buy 17 Jim has an annual income of $240,000. king to buy a house with monthly property taxes of $300 and monthly homeowner's insurance of $200

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