You looking to buy your first house. The cost of the house is $325,000. The...
70.2K
Verified Solution
Link Copied!
Question
Finance
You looking to buy your first house. The cost of the house is $325,000. The bank has agreed to make a loan to you for 30 years at 3.15% if you can make a down payment of 7.00%, and the loan payments do not exceed 36% of your gross monthly income. Based upon this information: What must your annual salary be in order to be approved for this loan? You looking to buy your first house. The cost of the house is $325,000. The bank has agreed to make a loan to you for 30 years at 3.15% if you can make a down payment of 7.00%, and the loan payments do not exceed 36% of your gross monthly income. Based upon this information: What must your annual salary be in order to be approved for this loan
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
