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11 November, 03:28

You work for a lending institution and are tasked with whether or not to approve a home loan. all applicants are required to have a 20% down payment, and the standard 28/36 ratio is used the loan application is for $230,000. you see that the applicant has an annual salary of $83,000 and a savings account balance of $50,000. the applicant also has a car payment of $315, a student loan of $140 and a boat loan of $96.

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  1. 11 November, 03:31
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    The answer is

    . b. Somewhat likely; recurring debt is very close to what is allowed.
  2. 11 November, 03:36
    0
    If you work for a lending institution and are tasked with whether or not to approve a home loan and all applicants are required to have a 20% down payment, then you will approve the loan if the recurring debt will be near to the approve or allowed.
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