Evaluating debt burden.  Ted Phillips has a monthly take-home pay of $1,685; he makes payments of $410 a month on his outstanding consumer credit (excluding the mortgage on his home). How would you characterize Isaac’s debt burden? What if his take-home pay were $850 a month and he had monthly credit payments of $150?

Q: a wants to buy a home and is applying for a conventional mortgage loan. Her gross monthly income is…

A: Maximum monthly mortgages depend on the monthly expenses and other income.

Q: Mr. and Mrs. Murthy have a totally monthly gross income of $6000.00. They are interested in…

A: GDSR is a metric that measures housing costs as a proportion of the gross income of the borrower.

Q: You are a mortgage broker at Interamerican Bank. One of your clients, Bill Cramer, has submitted an…

A: Comment- Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the…

Q: ds to borrow $5000 to pay for NHL season tickets for her family. She can borrow from the credit…

A: The annual percentage rate (APR) is the total cost of a loan to a borrower, including fees which is…

Q: Before you are able to purchase a home you need to get pre-qualified and determine the maximum…

A: As there are primary and co-borrower, the co-borrower's income and expenditures are also factored…

Q: Theo just financed a new car through his credit union.  His car loan requires payments of $420 a…

A: A car loan is a type of personal loan specifically designed for purchasing a vehicle. It is a…

Q: X and Y own a home recently appraised for $317,400. The balance on their existing mortgage is…

A: Appraised value = $317,400Existing mortgage value = $214,074Bank Rate =  70%

Q: Mike and Teresa have a monthly gross income of $6,167, but they pay $502 per month in taxes. They…

A: Debt service ratio is one of the ratio related to usage of debt. This is the ratio between debt…

Q: You are a first-time homeowner and know you will only prequalify for an FHA loan. Your monthly gross…

A: Recurring debt refers to a type of financial obligation that occurs regularly and requires periodic…

Q: Jacque's total monthly loan payments are 1020 while her gross income is 3939 per month. What is her…

A: The debt service ratio is the ratio that depicts a companies ability to repay its short-term debt…

Q: evaluating her consumer debt safety ratio. Her monthly take-home pay is $4,800. Each month, she p…

A: The Debt-Service Coverage Ratio (DSCR), is a financial indicator that evaluates a company's capacity…

Q: Many consumers carry a balance each month on their credit cards and make minimal payments towards…

A: Monthly payment (M) = $251.22 Interest rate = 23.77% compounded daily n = 6 years = 72 payments

Q: THINKING SECTION 14. Ella and Sam have a net income of $43 000 a year. Their expenses include…

A: Note: Hi! Thank you for the question As per the honor code, We’ll answer the first question since…

Q: Scott & Rebecca can afford to pay $2,500.00 each month for a mortgage. Their credit union is…

A: Compound = monthly = 12 Monthly payment = p = $2500 Interest rate = r = 4.5 / 12 = 0.375% Time = t =…

Q: Rachel Johnson has net monthly income of $3,325. She has a monthly auto loan payment of $385, a…

A: Debt-payments-to-income-ratio refers to the measurement of the ability of the company for repaying…

Q: Carlos earns a gross income of $5,680 per month and applies for a mortgage with a monthly PITI of…

A: Housing expense ratio = Monthly mortgage payments (PITI)/Gross monthly income Total obligation…

Q: Chris and Karen have a combined take-home income of $5,000. Their total monthly payments on consumer…

A: Debt safety ratio is a ratio that is often used by banks, financial institutions etc. to assess the…

Q: 1. Paul is a contractor. He buys supplies on his personal line of credit. The interest rate is…

A: The TVM refers to the interest-earning capacity of money. It is widely used in the calculation of PV…

Q: ending ratio guidelines are as given in the table below. Lending Ratio Guidelines Mortgage Type…

A: Given: Carlos earns a gross income of $5,690 per month and applies for a mortgage with a monthly…

Q: $2,500 per month. She has the following monthly debt payment expenses: $75 for credit cards, $125…

A: FHA provides the guidelines for the how much should be monthly income and housing expenses should…

Q: 8. Phoebe realizes that she has charged too much on her credit card and has racked up $7,000 in…

A: Credit card debit amount is treated as the debt amount or loan amount which is required to be paid…

Q: Abby also has a $400/month car loan payment and a $150/month student loan payment. If her lender…

A: The portion of monthly income that goes into paying the loan installments is known debt-to-income…

Q: Ransford and Alda Mariano own a home recently appraised for $426,500. The balance on their existing…

A: Home appraised for = $426,500Balance on existing mortgage = $113,087Bank giving loan = 80% of the…

Q: Before-tax cost of debt and after-tax cost of debt David Abbot is buying a new house, and he is…

A: a. We need to use the following formula in excel to calculate before tax interest rate  Before tax…

Q: Ronald and Samantha Brady recently had their condominium in Port Isaac appraised for $324,800. The…

A: Amount of credit available to Brady on home equity line of credit  = Amount that bank willing to…

Q: Scott & Rebecca can afford to pay $3,500.00 each month for a mortgage. Their credit union is…

A: It is a problem with sub-parts where monthly repayment ability is compared with the total loan…

Q: 4.Ben and Jen are looking at a home that has an annual property tax of $3700 and an average heating…

A: GDSR is the Gross debt service ratio. The maximum GDSR should not exceed 32%. Annual property tax…

Q: need to ulate the they can an annual income of $67,500 and have $37,000 available for a down payment…

A: Affordability ratio is the ratio which tells us how much of the monthly income can be allotted to…

Q: Kaleb Makes a salary of $5,000 per month and has no other loans. What maximum amount of monthly home…

A: When considering the maximum amount of monthly home payment that an individual like Kaleb can…

Q: Give me correct answer and explanation. Don't upload any image please.j

A: The objective of this question is to determine the number of payments and the time in months it will…

Q: Louise Mclntyre's monthly gross income is $3,100. Her employer withholds $780 in federal, state, and…

A: Given the following information: Gross income: $3,100 Employer withholds $780 in federal, state,…

Q: Carlos earns a gross income of $5,680 per month and applies for a mortgage with a monthly PITI of…

A: Given: Carlos earns a gross income of $5,680 per month and applies for a mortgage with a monthly…

Q: David has been informed by his banker that he is able to pay a maximum monthly mortgage payment of…

A: We’ll answer the first question since the exact one wasn’t specified. Please submit a new question…

Q: Ransford and Alda Mariano own a home recently appraised for $422,500. The balance on their existing…

A: Firstly we will calculate loan for which bank is willing to give on appraised value :   Loan…

Real Estate

Real estate means ownership of land along with the assets and natural resources that exist on the land. These properties are in real/physical form which is tangible. Real estate simply means land or addition made to land permanently like constructing a residence or different buildings. People invest in real estate to either reside or for wealth creation. Many people investing in real estate further lend the place for occupation or businesses in return for a monthly payment.