For the Following Mortgage Application, Calculate the Housing Expense Ratio

question 5

Short Answer

For the following mortgage application, calculate the housing expense ratio and the total expense ratio, rounding to the nearest tenth of a percent. $$\begin{array} { l l l l l l } & \text { Monthly } & \text { Monthly } & \text { Other Monthly } & \text { Housing } & \text { Total } \\& \text { Gross } & \text { (PITI) } & \text { Financial } & \text { Expense } & \text { Obligations } \\\text { Applicant } & \text { Income } & \text { Expense } & \text { Obligations } & \text { Ratio } & \text { Ratio } \\\text { Walker } & \$ 3,500 & \$ 800 & \$ 610 & &\end{array}$$

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Definitions:

Brachiation

Moving from branch to branch using the arms, with the body hanging suspended below.

Manipulate Objects

the ability to control and move items in the environment using physical contact, typically involving hands or tools.

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Large apes native to the forests of central Sub-Saharan Africa, known for their intelligence and complex social structures.

Knuckle-Walkers

Primates that walk using their knuckles as a form of locomotion, such as gorillas and chimpanzees.