Silvia and Jason Would Like to Purchase a Home with the Following

question 66

Multiple Choice

Silvia and Jason would like to purchase a home with the following monthly expenses:
​
Principal and interest
$980
Homeowner's insurance
$350
Real estate taxes
$265
Utilities
$205
​
The couple needs to have an annual gross income of at least ____ in order to qualify for a loan if the front-end ratio requirement is 26 percent.

• A) ​$57,462
• B) ​$61,385
• C) ​$73,615
• D) ​$83,077

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Definitions:

Inner Thoughts

Personal, private reflections or considerations, often not voiced or shared with others.

Personality Inventory

A type of questionnaire or psychological test designed to reveal aspects of an individual's character or psychological makeup.

Individual's Thoughts

The personal cognitive processes or considerations of a person.

Dimensions of Personality

Fundamental attributes that structure an individual's personality, often described in models like the Big Five: openness, conscientiousness, extraversion, agreeableness, and neuroticism.