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April 18, 2014

Homework Help: real estate finance

Posted by tmouery on Saturday, April 27, 2013 at 11:20am.

Max and Seymour are purchasing their first home using a VA guaranteed mortgage loan. Both have full entitlement. Their combined GMI is $1900.00. Their other monthly obligations total $200. What housing expense payment can they qualify for? _________

They are also using VA financing at an interest rate of 5 1/4% for 30 years. What mortgage amount can the qualify for estimating 60% of their housing expense for principal and interest?

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