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Martina and Anton are attempting to qualify for a mortgage with total mortgage financing (mortgage payment + property taxes) of $1486. heating costs of $118
Martina and Anton are attempting to qualify for a mortgage with total mortgage financing (mortgage payment + property taxes) of $1486. heating costs of $118 and a car loan payment of $346. What minimum gross monthly income will they need to have in order to qualify if the maximum debt service ratios allowed by the bank are a GDS of 32% and a TDS of 40%? Hint: Determine the required minimum gross monthly income for both the GDS and TDS calculation. Select one: O a. $4,953.00 b. $4,750.00 O c. $5,937.50 O d. $5,012.50 Clear my choice
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