The total household monthly income for Mark and Mary is $4032. Mortgage payments are $1174...
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The total household monthly income for Mark and Mary is $4032. Mortgage payments are $1174 per month. In addition the following payments are made; heating costs of $65 monthly, annual property taxes of $3200, a student loan payment of $100 per month and a car lease of $141 per month. Will Mark and Mary be able to afford this mortgage and will they qualify for a mortgage? Calculate both the GDS and TDS ratios
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