Hannah has determined that her net worth is $60,000. She has also determined that the face value of her mortgage is $160,000. She has determined that the face value of the rest of her debt is $30,000. What is Hannah's debt-to- equity ratio?
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- X and Y own a home recently appraised for $317,400. The balance on their existing mortgage is $214,074. If their bank is willing to loan up to 70% of the appraised value, what is the amount of credit available to them (in $)?Chris and Karen have a combined take-home income of $5,000. Their total monthly payments on consumer debt are $875. What is their debt safety ratio? Are they exhibiting any sign of approaching credit problems?Chris and Patti have a combined gross income of 590, 000 Using the 28/36 ratio, how much of their gross income should be expected to go towards their mortgage ?
- BhupatbhaiAbby also has a $400/month car loan payment and a $150/month student loan payment. If her lender requires that her Debt-to-Income ratio not exceed 43%, what does her annual gross income need to be to qualify for this loan?Jake has total fixed monthly expenses of $1,350 and his gross monthly income is $3,875. What is his debt-to-income ratio? How does his ratio compare to the desired ratio?
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