User Account

All Pages

What monthly amount for housing expenses will lender allow

Assignment Help Financial Accounting
Reference no: EM133117386

Question - A borrower earns $8,000/month and makes credit card and car note payments of $900. A conventional lender requires a 30% income ratio. What monthly amount for housing expenses (principle, interest, taxes, insurance) will the lender allow this person to have in order to qualify for a conventional mortgage loan?

a. $2,400

b. $900

c. $1,500

d. $1,200

Reference no: EM133117386

Questions Cloud

Compute the net present value : The Clark Corporation desires to expand. It is considering a cash purchase of Kent Enterprises for $4.2 million. Compute the net present value
Purpose of calculating profit after tax : What is the purpose of calculating "Profit after Tax + Interest"? Specifically, why do you add Interest?
Hedge fund manager profit : A hedge fund manager based in Japan obtains research suggesting that the Mexican Peso (MXN) is likely to depreciate over the short term. What way(s) can the hed
What is the asset beta of the project : General Electrik is a MNC with a long-term debt to equity ratio of 6.66. General Electrik prefers to issue corporate bonds at a post-tax cost of 5.84%, and a co
What monthly amount for housing expenses will lender allow : What monthly amount for housing expenses (principle, interest, taxes, insurance) will the lender allow this person to have in order to qualify for a loan
Estimate cash needs for the month of september 2020 : Alex Gowell Corporation (AGC) is a coffee roasting company in North Vancouver. The company has experienced an incredulous growth in the last 2 years. The owner
Spot price of copper : On August 1 the spot price of copper is 66 cents per 1b. and the December futures price is 68 cents per 1b. On November 1 the spot price of copper is 70 cents p
Donate to the cancer research foundation : You have just turned 30 years old, have just received your MBA, and have accepted your first job. Now you decide to put 10% of your annual salary into your savi
Determine the correct net income : These errors were made by Ipod on December 31, 2023 and were not corrected: accrued revenue of $2,100 omitted, Determine the correct 2024 Net Income

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd