Ralph applied for a mortgage loan to purchase his own home. His credit score is well above the minimum 640 required by the end The appraised value of the house is $280,000 and purchase price of the house is $285,000. The maximum loan to value the mortgage Jender allows is 90%. The mortgage lender's maximum front-end debt ratio allowed is 29 and maximum back-end debt ratio allowed is 41%. The lenderis charging a one (1) point origination fee and that is included in the total closing costs: Based on the information verified from the Ralph's bank depository account, his credit report, and various verification sources, you are given the following: Total Gross Monthly Income: $13,000.00, money on deposit in the Ralph's bank account $25,000.00 monthly PITE: $3,650.00, Ralph's total other monthly debt: $1,550.00, total loan closing costs: $5,000.00 Total Gross Monthly Income: $13,000.00, money on deposit in the Ralphs bank account $25,000.00, monthly DITL 1400 tals total other monthly debt: $1,550,00, total loan closing costs: 55,000.00 What is the maximum dollar amount the bank will lend to Ralph for this property S256,500 O $270,750 $266,000 What is the maximum dollar amount the bank will lend to Ralph for this property @ $256,500 $270,750 O $266,000 S252,000 None of the provided answers is correct. Ralph applied for a mortgage loan to purchase his own home. His credit score is well above the minimum 640 required by the end The appraised value of the house is $280,000 and purchase price of the house is $285,000. The maximum loan to value the mortgage Jender allows is 90%. The mortgage lender's maximum front-end debt ratio allowed is 29 and maximum back-end debt ratio allowed is 41%. The lenderis charging a one (1) point origination fee and that is included in the total closing costs: Based on the information verified from the Ralph's bank depository account, his credit report, and various verification sources, you are given the following: Total Gross Monthly Income: $13,000.00, money on deposit in the Ralph's bank account $25,000.00 monthly PITE: $3,650.00, Ralph's total other monthly debt: $1,550.00, total loan closing costs: $5,000.00 Total Gross Monthly Income: $13,000.00, money on deposit in the Ralphs bank account $25,000.00, monthly DITL 1400 tals total other monthly debt: $1,550,00, total loan closing costs: 55,000.00 What is the maximum dollar amount the bank will lend to Ralph for this property S256,500 O $270,750 $266,000 What is the maximum dollar amount the bank will lend to Ralph for this property @ $256,500 $270,750 O $266,000 S252,000 None of the provided answers is correct
