Question
Jim has an annual income of $300,000. Jim is looking to buy a house with monthly property taxes of $140 and monthly homeowner's insurance of
Jim has an annual income of $300,000.
Jim is looking to buy a house with monthly property taxes of $140 and monthly homeowner's 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 4.5%, with monthly payments, compounded monthly.
Apple Bank allows a maximum LTV of 80%.
How much is the most expensive house Jim can buy?
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Forecasting Methods And Applications
Authors: Spyros G. Makridakis, Steven C. Wheelwright, Rob J Hyndman
3rd Edition
0471532339, 9780471532330
