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Project Name Score PART I 1. Conventional ratios are: (2 points ) Housing % Debt to Income % 2. FHA ratios are: (2 points) Housing
Project Name Score PART I 1. Conventional ratios are: (2 points ) Housing % Debt to Income % 2. FHA ratios are: (2 points) Housing % Debt to Income % 3. VA ratios are: (2 points ) Housing % Debt to Income % 4. Find the monthly payment on a home mortgage of $175,000 at 4.375% annual interest for 30 years. ( 2 points ) 4B. What is the total amount of interest paid on the above mortgage? ( 4 points) 4C. The annual insurance premium on the home in question #4 is $860 and the annual property tax is $2,540. Calculate the total PITI (principle, interest, taxes, insurance) payment. ( 6 points )
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