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QUESTION
A mortgage applicant who has a monthly gross income of $2,780 applies for a mortgage with a monthly piti of $689.44. the applicant's other financial obligations total $405.88 per month. if the lending
A mortgage applicant who has a monthly gross income of $2,780 applies for a mortgage with a monthly piti of $689.44. the applicant's other financial obligations total $405.88 per month. if the lending ratio guidelines are as given in the table below, what type of mortgage, if any, would the applicant qualify for?
