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Business, 19.03.2021 03:00 kaylee0424

The bank is willing to underwrite this mortgage as long as the same two criteria described in part B. are satisfied. (i) The loan-to-value ratio of the mortgage is less than (or equal to) 75% (ii) The Debt Coverage Ratio is greater than (or equal to) 1.5. What is the largest interest-only mortgage we can obtain from the bank such that the two criteria are satisfied

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