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May 27, 2015

Homework Help: real estate finance

Posted by tmouery on Saturday, April 20, 2013 at 10:41am.

Jay has an annual income of $50,000. He would qualify for a $__________ monthly payment for housing + other long-term debt on an FHA loan.

I have the GMI, but I'm not sure as to how to find the monthly payment. Do I multiply the GMI by 28% in order to get the monthly payment?

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