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Use the gds ratio to determine how much of a monthly

Annual Gross Income $78000 ($6500)

Personal Monthly loan payment $150

Car Loan Payments $775

Credit Card Monthly Payment

Monthly estimate for property taxes, heat, and insurance $585

25 year loan at 6.5 percent

A. Use the GDS ratio to determine how much of a monthly payment they can afford

B. Using the GDS ratio: if they have 20% to put down, what is the maximum amount they can pay for the house?

C. If they decide to buy a condo with monthly condo fees of $300 will that affect how much they can afford? If so what is the maximum they can pay for the condo?

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Mathematics: Use the gds ratio to determine how much of a monthly

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