Using only the GDS criteria, which one of the following statements is true?
A) Joe gets the loan but not Bill.
B) Bill gets the loan but not Joe.
C) Both get the loan.
D) Neither gets the loan. Joe: GDS = ((2100 x 12) + 3000) /100,000 = 28.20%; Bill: GDS = ((1000 x 12) + 1400) /45,000 = 29.78%; both are under the max of 30%
Correct Answer:
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