Sally is ready to purchase her first home. The bank has advised her that they need to work on some ratios before letting her know if the mortgage is approved. What is Sallys Gross Debt Service (GDS) ratio based on the information she has provided?

Annual gross salary: $85,000

Monthly student loan $70

Estimated monthly mortgage payment: $1,650

Monthly car loan $120

Estimated annual property taxes: $1,500

Monthly loan to parents $50

Estimated monthly heating: $150

Monthly home renovation loan payments $150

Estimated annual condo fees $500

Monthly furniture loan $25

Points: 1 32%

34%

24%

27%

16%