Question

desiree currently earns $2,900 per month. she has the following monthly debt payment expenses: $130 for credit cards, $280 for student loans, and a $335 car payment. she is looking to buy a house. the monthly mortgage, including principal, insurance, and taxes, is $800. does desiree meet the fha housing total fixed payments-to-income ratio guideline?

Answer 1

Desiree meets the fha housing total fixed payments-to-income ratio guideline as the ratio is less than 31%.

How to illustrate the ratio?

First and foremost, it's important to note that according to the fha housing total fixed payments-to-income ratio guideline, the ratio of housing to income should be less than 31%.

Here, the the monthly mortgage, including principal, insurance, and taxes, is $800 and Desiree currently earns $2,900 per month.

The ratio will be illustrated as:

= 800/2900

= 27.6%

Therefore, she meets the guideline.

Learn more about ratio on:

brainly.com/question/2328454

#SPJ1