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D Question 8 1 pts a a What is the minimum income for a borrower looking to purchase a $400,000 home with a $320,000 mor
Posted: Tue Jan 18, 2022 1:00 pm
by answerhappygod
- D Question 8 1 Pts A A What Is The Minimum Income For A Borrower Looking To Purchase A 400 000 Home With A 320 000 Mor 1 (69.76 KiB) Viewed 46 times
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Question 8 1 pts a a What is the minimum income for a borrower looking to purchase a $400,000 home with a $320,000 mortgage based on a back-end a ratio maximum of 36%? The mortgage has a rate of 6% and a term of 30 years. The borrower has $1,000/month in school loans and makes a car payment of $850/month. The property taxes on the property are $4,000/year, the hazard insurance premium is $800/year, and there are no association dues. $ Please input the answer as an annual income.