The buyer anticipates a house payment of $1,000 per month, with monthly homeowner association fees of $150. The buyer also has a car payment of $400 per month. If the buyer earns a monthly. This means that the buyer's monthly debt payments is
1000 + 150 + 400 = $1550
Debt ratio = monthly debt payments/monthly gross income
If the buyer earns a monthly gross income of $5,000, then
