Mathematics, 02.12.2020 06:30 lportis4898

Mary wants an FHA loan to buy a house. She would have these monthly expenses: $536.82 Principal and Interest ($100,000 at 5% for 360 months) $ 53.00 Property Taxes $ 25.00 Homeowners Insurance $ 95.83 MIP (FHA Mortgage Insurance Premium based on 96% LTV) +$ 90.00 Homeowners Association Dues $800.65 Total Housing Expense (PITI) What should Mary’s required stable monthly gross income be to qualify for this loan?

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Mary wants an FHA loan to buy a house. She would have these monthly expenses: $536.82 Principal and...