Contemporary Mathematics for Business and Consumers 7th Edition by Robert Brechner ,George Bergeman

تمرين 8

Magda Leon is applying for a home mortgage with a monthly PITI of $724. She currently has a gross income of $2,856 and other monthly expenses of $411.
a. What is Magda's housing expense ratio?
b. What is her total obligations ratio?
c. According to the lending ratio guidelines, for what type of mortgage would Magda qualify, if any?