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Sachins bank just called as he submitted a bank application for a mortgage. Sachins gross annual income is $135,000. His monthly heating would be $475,
Sachins bank just called as he submitted a bank application for a mortgage. Sachins gross annual income is $135,000. His monthly heating would be $475, condo fees of $750 per month, and annual property taxes would be $4,750. He also has monthly car payments of $750 and other monthly debt payments of $435. Given the bank has calculated his Total Gross Debt Service (GDS) ratio as 31%, how much is his monthly mortgage payment?
A$1,854
B$2,242
C$1,564
D$1,295
E$1,057
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