Question
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
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%. Both limits must be satisfied.
Apple bank is offering a fully amortizing 30 year FRM at an annual rate of 4%, with monthly payments, compounded monthly. What is the biggest loan Jim can get?
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Managerial Accounting Tools for business decision making
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
6th Edition
978-0470477144, 1118096894, 9781118214657, 470477148, 111821465X, 978-1118096895
