Business, 30.03.2021 03:00 adriancastaneda

Joe King has an annual income of $240,000. Joe is buying a $400,000 house in a very desirable area, sought after by buyers. He applies for a loan at the bank and is approved for fully amortizing 30-year FRM at an annual rate of 3.40%, with monthly payments, compounded monthly. The bank will not lend more than 80% LTV. The appraisal indicates the house is worth $375,000. Assuming he does not want PMI What is the biggest mortgage Joe can get

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Joe King has an annual income of $240,000. Joe is buying a $400,000 house in a very desirable area,...

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