Magda Leon is applying for a home mortgage with a monthly PITI of $724. She currently
Chapter 0, Problem 22(choose chapter or problem)
Magda Leon is applying for a home mortgage with a monthly PITI of $724. She currently has a gross income of $2,856 and other monthly expenses of $411. a. What is Magdas housing expense ratio? b. What is her total obligations ratio? c. According to the lending ratio guidelines, for what type of mortgage would Magda q ualify, if any?
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