The debt to income ratio is 86 percent. This is high so the family should not buy a house.
<h3>The total debt that is owed by this family </h3>
First mortgage = $43,000
Outstanding debts = $12,200
Car loan = $13,700
Second mortgage =$25,700
The total debt that this family is owing is given as
$43,000+ $12,200+$13,700+$25,700
= 94600 dollars
The total income that this family makes is given as $110,000.
The debt to income ratio would be
94600/$110,000.
= 0.86
Therefore the debt to income ratio that this family has is 86%.
Given that their debt to income ratio is high, it is advisable that the family has to stay away from purchasing a new house.
Read more on debt and income ratio here:brainly.com/question/24814852
