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Sxample \#1 Bob \& Bobbi would like to buy a home. Bob makes $10.50 per hour and works a normal 40 hour workweek. Bobbi grosses \$350.00 per week. Calculate their monthly income: Bob Bobbi Total Now, let's look at their monthly debts. Theyhave:CarPaymentCreditCardCreditCard$210.00Willbepaidoffin26months$45.00(balanceof$1,200.00)$25.00(balanceof$625.00) Using the basic qualifying ratio for conventional mortgages ( 28/36%), what is the amount of monthly payment that Bobbi \& Bob will qualify? 28% 36% Maximum House Payment $ Example #2 Ken \& Kerri would like to see how moch they qualify for to buy a home. Both think they have great jobs. Ken makes $14.25. He works part-time and can prove through his paystubs that be works 36 hours per week and has for the past 2 years although his company will only guarantee 30 hours.. Kerri works as a receptionist and makes $575 per week. Calculate their monthly income: Ken Kerri Total Now, let's look at their monthly debts. They have: Car Payment $225.00 It's almost paid off 6 payments remain TruckPaymentCreditCardKohlsCard$340.00$60.00(balanceof$1,950.00)$40.00(balanceof$800.00) Using the basio qualifying ratio for FHA mortgages ( 31/43%), what is the amount of monthly payment that Ken \& Kemi will qualify? 31% 43% Maximum House Payment S

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