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Suppose you earn a gross income of $2,580 per month and apply for a mortgage with a monthly PITI of $743.76. You have other financial
Suppose you earn a gross income of $2,580 per month and apply for a mortgage with a monthly PITI of $743.76. You have other financial obligations totaling $118.68 per month. If the lending ratio guidelines are as given in the table below, what type of mortgage, if any, would you qua Mortgage Type FHA Conventional Housing Expense Ratio 29% 28% O Both FHA and Conventional O Conventional only Neither FHA nor Conventional O FHA only f mortgage, if any, would you qualify for? Total Obligations Ratio 41% 36%
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