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Tran currently makes? $4,500 per month in gross income. he has a student loan payment of? $250 per month and a car loan of? $450 per month. his credit card payments average? $300 per month. what is the largest piti he could qualify for with a reputable? lender?

Respuesta :

altavistard
To help you get started:  Add together the monthly payments.  Divide this sum by the given gross income.  Here we'd get $1000/$4500, or 10/45, or 22.2%, and Tran's remaining income after debts would be $4500-$1000 = $3500. 

You will have to review your class notes and/or textbook to determine "the largest piti for which he could qualify," based upon these figures.




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