Using Only the GDS Criteria, Which One of the Following

question 19

Multiple Choice

Using only the GDS criteria, which one of the following statements is true?

• A) Joe gets the loan but not Bill.
• B) Bill gets the loan but not Joe.
• C) Both get the loan.
• D) Neither gets the loan. Joe: GDS = ((2100 x 12) + 3000)/100,000 = 28.20%; Bill: GDS = ((1000 x 12) + 1400)/45,000 = 29.78%; both are under the max of 30%

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