For what kind of mortgage can they qualify

Reference no: EM13185448

Jamie and Alice Newmark have a combined monthly gross income of $9,702 and monthly expenses totaling $2,811. They plan to buy a home with a mortgage whose monthly PITI will be $2,002.

a. What is Jamie and Alice's combined housing expense ratio?

b. What is their total obligations ratio?

c. For what kind of mortgage can they qualify, if any?

Reference no: EM13185448

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