Tom and Peggy have annual gross income of $240,000 and $80,000 available for a down payment. Other monthly debt service commitments amount to $600 per month. Using the Front End DTI Ratio, determine how much they have available for PITI, and using the Back End DTI Ratio, determine if their total debt service meets the 28/36 guideline for a conventional mortgage. O $7,200 and no $5,600 and yes $7,200 and yes O $5,600 and no

Tom and Peggy have annual gross income of $240,000 and $80,000 avalable for a down payment. Other monthly debt service commitments amount io $600 per month. Using the Front End DTI Rato, determine how much they have avalablo for PIT, and using the Back End DTI Ratio, determine if their lotal debt service meets the 28/36 guideline for a conventional mortgage. $7,200andno$5,600andyes$7,200andyes$5,600andno