Answers 26-27 Ignite Financial Literacy Personal Finance - EL3403 Qualifying for a Home LoanQuestion 9

9

QuizMultiple Choice

Qualifying for a Home Loan

Question 9 • 26-27 Ignite Financial Literacy Personal Finance - EL3403

How much annual income would you need to have if, using the 28/36 ratio, your maximum allowable recurring debt is $380?

Answer

A

$16,290

B

$22,800

C

$57,000

D

$75,000

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