Use the scenario to answer the following question. Bryan has applied for a mortgage with Bank of America. The bank is reviewing the amount of Bryan's monthly income that is used to pay his monthly debt to determine the level of risk in offering him a mortgage. Which of the following concepts characterizes the basic components of a credit score being utilized by the bank? A- payment history B- debt-to-income ratio C- available credit D- length of credit history
Use the scenario to answer the following question. Bryan has applied for a mortgage with Bank of America. The bank is reviewing the amount of Bryan's monthly income that is used to pay his monthly debt to determine the level of risk in offering him a mortgage. Which of the following concepts characterizes the basic components of a credit score being utilized by the bank? A- payment history B- debt-to-income ratio C- available credit D- length of credit history
Economics Today and Tomorrow, Student Edition
1st Edition
ISBN:9780078747663
Author:McGraw-Hill
Publisher:McGraw-Hill
Chapter4: Going Into Debt
Section: Chapter Questions
Problem 7AA
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Use the scenario to answer the following question.
Bryan has applied for a mortgage with Bank of America. The bank is reviewing the amount of Bryan's monthly income that is used to pay his monthly debt to determine the level of risk in offering him a mortgage.
Which of the following concepts characterizes the basic components of a credit score being utilized by the bank?
A- payment history
B- debt-to-income ratio
C- available credit
D- length of credit history
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