Martina and Anton Are Attempting to Qualify for Total Mortgage

question 78

Multiple Choice

Martina and Anton are attempting to qualify for total mortgage financing of $1486,heating costs of $68,and they have a car loan payment of $346.What minimum gross monthly income will they need to qualify for both GDS ratio of 32 percent and TDS ratio of 40 percent?

• A)$5938
• B)$4750
• C)$4856
• D)$4644

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Definitions:

Conservation Ability

A cognitive skill, typically developing in childhood, that enables an individual to understand that certain properties remain constant despite changes in form or appearance.

Systematically Paying Attention

The methodical process of focusing thought and cognitive resources on specific stimuli or tasks.

Knowledge Base

A collection of structured and unstructured information used by computer systems to provide answers, solutions, or to support decision-making processes.

Backstrap Looms

A simple loom used in weaving, consisting of two sticks between which the warp threads are stretched, one tied around the weaver's waist and the other to a stationary object.