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Use the below information to answer the following 3 questions regarding residential underwriting Borrower info annual gross salary: $ 9 0 , 0 0 0

Use the below information to answer the following 3 questions regarding residential underwriting
Borrower info
annual gross salary: $90,000
annual take home pay (after taxes): $70,000
monthly student loan payment: $400
monthly car payment: $500
Mortgage info
LTV: 75%
Term & Am: 15 years
Interest Rate: 4.00%
Monthly projected property taxes: $600
Monthly projected home owners insurance: $200
Underwriting info
Housing expense ratio: 29%
Total debt ratio: 36% What is the maximum mortgage amount this borrower qualifies for? What is the maximum house purchase price this borrower qualifies for? What is the maximum monthly payment (principal and interest) this borrower qualifies for?

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