In evaluating the applicant's ability to pay, the debt-to-income ratio should
A) be less than 50%
B) be 36% or less
C) be less than 28%
D) be around 15%

Name: In evaluating the applicant's ability to pay, the debt-to-income ratio should A) be less than 50% B) be 36% or less C) be less than 28% D) be around 15%
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Quizplus · Accepted Answer

The debt-to-income ratio should ideally be 36% or less. This percentage is a standard guideline used by lenders to assess an applicant's ability to manage monthly payments and repay debts.

In Evaluating the Applicant's Ability to Pay, the Debt-To-Income Ratio