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Komok [63]
3 years ago
8

Luis wants to buy a home priced at $315,000. He plans to finance this amount less the down payment required. His

Mathematics
2 answers:
Marizza181 [45]3 years ago
8 0

9514 1404 393

Answer:

  A.  Luis is eligible for a home loan; he meets all of the requirements.

Step-by-step explanation:

Luis's monthly income is $91,500/12 = $7625. The loan payment as a percentage of this income is ...

  $2100/$7625 ≈ 27.54%

This amount is less than 28%, so Luis qualifies according to the first criterion.

__

The total of Luis's monthly debt payments with the loan will be ...

  $2100 +370 +165 +45 = $2680

As a percentage of his monthly income, this is ...

  $2680/$7625 = 35.15%

This amount is less than 36%, so Luis qualifies according to the second criterion.

Luis is eligible for a home loan; he meets all of the requirements.

sveta [45]3 years ago
3 0

Answer:

d Luis is not eligible for a loan, he should reduce his recurring debt

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One solution was found :

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Step-by-step explanation:

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