The lender requires a borrower's total debt payment ratio to be 36% or less, and the mortgage debt service ratio to be no more than 28% of gross income. If the Gonzales have PITI payments of $475 per month and $75 of additional debt, how much gross income do they need to qualify for the mortgage?

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The Answer of The lender requires a borrower's total debt payment ratio to be 36% or less, and the mortgage debt service ratio to be no more than 28% of gross income. If the Gonzales have PITI payments of $475 per month and $75 of additional debt, how much gross income do they need to qualify for the mortgage?

The Lender Requires a Borrower's Total Debt Payment Ratio to Be