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Business, 13.11.2019 03:31, alexa006ox9k63

What is usually the highest percentage of family income that lenders allow for monthly mortgage payments

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Mathematics, 02.07.2019 18:30, olson1312

What is usually the highest percentage of family income that lenders allow for monthly mortgage payments

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Mathematics, 31.07.2019 00:20, kendelllh

You are a loan officer at the west elm savings and loan. mr. and mrs. brady are in your office to apply for a mortgage loan on a house they want to buy. the house has a market value of $190,000. your bank requires 1/5 of the market value as a down payment. (a)what is the amount (in $) of the down payment? 38,000$ (b)what is the amount (in $) of the mortgage for which the bradys are applying? (c)your bank offers the bradys a 30 year mortgage with a rate of 5%. at that rate, the monthly payments for principal and interest on the loan will be $5.37 for every $1,000 financed. what is the amount (in $) of the principal and interest portion of the bradys' monthly payment? (d)what is the total amount (in $) of interest that will be paid over the life of the loan? (e)your bank also requires that the monthly mortgage payments include property tax and homeowners insurance payments. if the property tax is $1,710 per year and the property insurance is $1,458 per year, what is the total monthly payment (in $) for piti (principal, interest, taxes, and insurance)? (f)to qualify for the loan, bank rules state that mortgage payments cannot exceed 1/4of the combined monthly income of the family. if the bradys earn $3,750 per month, will they qualify for this loan? yes, they will qualify. ✅no, they will not qualify. (g)what monthly income (in $) would be required to qualify for this size mortgage payment?

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Mathematics, 08.08.2019 00:30, maltbie1283

Suppose your gross monthly income is $5,800 and your current monthly payments are $425. if the bank will allow you to pay up to 36% of gross monthly income (less current monthly payments) for a monthly house payment, what is the maximum loan you can obtain if the rate for a 30-year mortgage is 4.65%? (round your answer to the nearest cent.)

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Mathematics, 28.09.2019 11:50, sparky1234

Math question : you should spend no more than 25% of your monthly income on your rent or mortgage.. there is a rule that says your monthly mortgage payment on a apartment is 1% of the original mortgage amount.. what's the largest mortgage a family could afford for their apartment if their family income is $3,000 a month? sorry it's long : ( you : )

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