The percentage of a borrower’s gross monthly income required to meet monthly housing expenses (only) is called the mortgage debt.
Debt or the company or subsidiary secured on lien on one or more parcels of their real property. It is typically housing expense divided into several series of regular payments in which principal and amount is present.
A borrower applies through a lender or an institution to know the gross value of the amount of the interest on the amount lended. Its process goes under legal terms which is underwriting procedure done on the basis of the credit score and credibility in financial institutions and making viable processes in front of the witness available monthly.
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