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MrMuchimi
2 years ago
9

A borrower is purchasing a three-family, owner-occupied rental property. Rental income will be $2,000 (verified only by leases).

The PITIA on the property is $2,350. The borrower has a gross monthly income of $5,760 and monthly debt payments of $625. What are the ratios for this loan
Business
1 answer:
ololo11 [35]2 years ago
7 0

LTV= principal amount/ market value of your property.

what is a Loan ratio - Financial institutions utilize the Loan-to-Value Ratio (LTV) to determine the lending risk before approving a mortgage for the purchase of real estate.
26:10
Rental income will be $2,000 (verified only by leases)
The PITIA on the property is $2,350
The borrower has a gross monthly income of $5,760
monthly debt payments of $625.
Pitia refers to the following items: principal, interest, taxes, insurance, including hazard and flood insurance, as well as homeowners' association or condominium dues, although it excludes mortgage insurance charges.
Debt payment is the action of returning money you have borrowed. m making debt payments is difficult and a lot of people struggle to make their debt payments.
To learn more about Loan ratio please refer to - brainly.com/question/15582030
#SPJ4

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