Contemporary Mathematics for Business & Consumers 8th Edition by Robert Brechner,Geroge Bergeman

Exercise 61

You are a mortgage broker at Inter american Bank. One of your clients, Bill Cramer, has submitted an application for a mortgage with a monthly PITI of $1,259. His other financial obligations total $654.50 per month. Bill earns a gross income of $4,890 per month.
a. What is his housing expense ratio
b. What is his total obligations ratio
c. According to the Lending Ratio Guidelines on page 468, for what type of mortgage would Bill qualify, if any
d. If Bill decided to get a part-time job so that he could qualify for a conventional mortgage, how much additional monthly income would he need