Answer:
Step-by-step explanation:
3) Purchase price of the home is $585000
Cash down payment is $ 175000
Amount to taken for loan
[tex] = 585000-175000 = $410000[/tex]
Therefore, loan to value ratio will be
[tex]= \frac{loan amount}{value}[/tex]
[tex] =\frac{410000}{585000}[/tex]
On solving
[tex]=\frac{410}{585}[/tex]
On simplifying
[tex] =\frac{82}{117}[/tex]
The loan to value ratio will be [tex]82:117[/tex]
4) it is given that
Fixed monthly expences i.e. debt [tex]=$1836[/tex]
Total income per month [tex] =$4934[/tex]
Therefore debt to income ratio will be
[tex]= \frac{debt}{income}[/tex]
[tex]= \frac{1836}{4934}[/tex]
On simplifying we get
[tex]=\frac{918}{2467}[/tex]
Therefore debt to income ratio will be
[tex]918:2467[/tex]
