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Lets assume that you are applying for a mortgage in the amount of $380,000 at an interest rate of 7.5% on a 30 year amortizing
Lets assume that you are applying for a mortgage in the amount of $380,000 at an interest rate of 7.5% on a 30 year amortizing 10/1 ARM. If your gross income is $150k a year and your monthly escrows are $400 what is your housing DTI on this mortgage?
A. 30.57%
B. 24.4%
C. 28.6%
D. 29.3%
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