The housing expense ratio, if Bill cramer, has submitted an appication for mortgage with a monthly PITI of $ 1 , 259 and other financial obligations total $ 654.50 per month and his gross income is $ 4 , 890 per month.

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Answer 1

Question

Chapter 14.II, Problem 21RE

(a)

To determine

To calculate: The housing expense ratio, if Bill cramer, has submitted an appication for mortgage with a monthly PITI of $1,259 and other financial obligations total $654.50 per month and his gross income is $4,890 per month.

(b)

To determine

To calculate: The total obligation ratio, if Bill cramer, has submitted an appication for mortgage with a monthly PITI of $1,259 and other financial obligations total $654.50 per month and his gross income is $4,890 per month.

(c)

To determine

The type of mortgage would Bill qualify, if any with the help of Lending Ratio Guidelines. And, Bill cramer, has submitted an appication for mortgage with a monthly PITI of $1,259 and other financial obligations total $654.50 per month and his gross income is $4,890 per month.

(d)

To determine

To calculate: The additional monthly income he need, if Bill decided to get a part-time job to qualify himself for a conventional mortgage.

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Answer 2

Question

Chapter 14.II, Problem 21RE

(a)

To determine

To calculate: The housing expense ratio, if Bill cramer, has submitted an appication for mortgage with a monthly PITI of $1,259 and other financial obligations total $654.50 per month and his gross income is $4,890 per month.

(b)

To determine

To calculate: The total obligation ratio, if Bill cramer, has submitted an appication for mortgage with a monthly PITI of $1,259 and other financial obligations total $654.50 per month and his gross income is $4,890 per month.

(c)

To determine

The type of mortgage would Bill qualify, if any with the help of Lending Ratio Guidelines. And, Bill cramer, has submitted an appication for mortgage with a monthly PITI of $1,259 and other financial obligations total $654.50 per month and his gross income is $4,890 per month.

(d)

To determine

To calculate: The additional monthly income he need, if Bill decided to get a part-time job to qualify himself for a conventional mortgage.

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Answer 3

Question

Chapter 14.II, Problem 21RE

(a)

To determine

To calculate: The housing expense ratio, if Bill cramer, has submitted an appication for mortgage with a monthly PITI of $1,259 and other financial obligations total $654.50 per month and his gross income is $4,890 per month.

(b)

To determine

To calculate: The total obligation ratio, if Bill cramer, has submitted an appication for mortgage with a monthly PITI of $1,259 and other financial obligations total $654.50 per month and his gross income is $4,890 per month.

(c)

To determine

The type of mortgage would Bill qualify, if any with the help of Lending Ratio Guidelines. And, Bill cramer, has submitted an appication for mortgage with a monthly PITI of $1,259 and other financial obligations total $654.50 per month and his gross income is $4,890 per month.

(d)

To determine

To calculate: The additional monthly income he need, if Bill decided to get a part-time job to qualify himself for a conventional mortgage.

Expert Solution & Answer

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Check out a sample textbook solution

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Answer 4

Question

Chapter 14.II, Problem 21RE

(a)

To determine

To calculate: The housing expense ratio, if Bill cramer, has submitted an appication for mortgage with a monthly PITI of $1,259 and other financial obligations total $654.50 per month and his gross income is $4,890 per month.

(b)

To determine

To calculate: The total obligation ratio, if Bill cramer, has submitted an appication for mortgage with a monthly PITI of $1,259 and other financial obligations total $654.50 per month and his gross income is $4,890 per month.

(c)

To determine

The type of mortgage would Bill qualify, if any with the help of Lending Ratio Guidelines. And, Bill cramer, has submitted an appication for mortgage with a monthly PITI of $1,259 and other financial obligations total $654.50 per month and his gross income is $4,890 per month.

(d)

To determine

To calculate: The additional monthly income he need, if Bill decided to get a part-time job to qualify himself for a conventional mortgage.

Expert Solution & Answer

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Answer 5

Chapter 14.II, Problem 21RE

(a)

To determine

To calculate: The housing expense ratio, if Bill cramer, has submitted an appication for mortgage with a monthly PITI of $1,259 and other financial obligations total $654.50 per month and his gross income is $4,890 per month.

(b)

To determine

To calculate: The total obligation ratio, if Bill cramer, has submitted an appication for mortgage with a monthly PITI of $1,259 and other financial obligations total $654.50 per month and his gross income is $4,890 per month.

(c)

To determine

The type of mortgage would Bill qualify, if any with the help of Lending Ratio Guidelines. And, Bill cramer, has submitted an appication for mortgage with a monthly PITI of $1,259 and other financial obligations total $654.50 per month and his gross income is $4,890 per month.

(d)

To determine

To calculate: The additional monthly income he need, if Bill decided to get a part-time job to qualify himself for a conventional mortgage.

Answer 6

Chapter 14.II, Problem 21RE

(a)

To determine

To calculate: The housing expense ratio, if Bill cramer, has submitted an appication for mortgage with a monthly PITI of $1,259 and other financial obligations total $654.50 per month and his gross income is $4,890 per month.

Answer 7

Chapter 14.II, Problem 21RE

(a)

To determine

To calculate: The housing expense ratio, if Bill cramer, has submitted an appication for mortgage with a monthly PITI of $1,259 and other financial obligations total $654.50 per month and his gross income is $4,890 per month.

Answer 8

(b)

To determine

To calculate: The total obligation ratio, if Bill cramer, has submitted an appication for mortgage with a monthly PITI of $1,259 and other financial obligations total $654.50 per month and his gross income is $4,890 per month.

Answer 9

(b)

To determine

To calculate: The total obligation ratio, if Bill cramer, has submitted an appication for mortgage with a monthly PITI of $1,259 and other financial obligations total $654.50 per month and his gross income is $4,890 per month.

Answer 10

(c)

To determine

The type of mortgage would Bill qualify, if any with the help of Lending Ratio Guidelines. And, Bill cramer, has submitted an appication for mortgage with a monthly PITI of $1,259 and other financial obligations total $654.50 per month and his gross income is $4,890 per month.

Answer 11

(c)

To determine

The type of mortgage would Bill qualify, if any with the help of Lending Ratio Guidelines. And, Bill cramer, has submitted an appication for mortgage with a monthly PITI of $1,259 and other financial obligations total $654.50 per month and his gross income is $4,890 per month.

Answer 12

(d)

To determine

To calculate: The additional monthly income he need, if Bill decided to get a part-time job to qualify himself for a conventional mortgage.

Answer 13

(d)

To determine

To calculate: The additional monthly income he need, if Bill decided to get a part-time job to qualify himself for a conventional mortgage.

Answer 14

Expert Solution & Answer

Answer 15

Expert Solution & Answer

Answer 16

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Answer 17

Ch. 14.I - What is the monthly payment and total interest on...Ch. 14.I - Prob. 2TIE Ch. 14.I - Prob. 3TIE Ch. 14.I - Prob. 4TIE Ch. 14.I - Prob. 5TIE Ch. 14.I - Using Table 14-1 as needed, calculate the required...Ch. 14.I - Prob. 2RE Ch. 14.I - Using Table 14-1 as needed, calculate the required...Ch. 14.I - Prob. 4RE Ch. 14.I - Prob. 5RE

The housing expense ratio, if Bill cramer, has submitted an appication for mortgage with a monthly PITI of $ 1 , 259 and other financial obligations total $ 654.50 per month and his gross income is $ 4 , 890 per month.

Solution Summary: The author calculates the housing expense ratio if Bill cramer has submitted an appication for mortgage with a monthly PITI of 1,259 and other financial obligations totaling

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To calculate: The housing expense ratio, if Bill cramer, has submitted an appication for mortgage with a monthly PITI of $1,259 and other financial obligations total $654.50 per month and his gross income is $4,890 per month.

To calculate: The total obligation ratio, if Bill cramer, has submitted an appication for mortgage with a monthly PITI of $1,259 and other financial obligations total $654.50 per month and his gross income is $4,890 per month.

The type of mortgage would Bill qualify, if any with the help of Lending Ratio Guidelines. And, Bill cramer, has submitted an appication for mortgage with a monthly PITI of $1,259 and other financial obligations total $654.50 per month and his gross income is $4,890 per month.

To calculate: The additional monthly income he need, if Bill decided to get a part-time job to qualify himself for a conventional mortgage.

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Chapter 14 Solutions