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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 p Housing Mortgage Type FHA Conventional Both FHA and Conventional Conventional only Neither FHA nor Conventional FHA only ng $118.68 per month. If the lending ratio guidelines are as given in the table below, what type of mortgage, if any, would you qualify for? Housing Expense Ratio 29% 28% Total Obligations Ratio 41% 36%
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