Boris is applying for a mortgage loan to purchase his own ho…

Written by Anonymous on March 3, 2026 in Uncategorized with no comments.

Questions

Bоris is аpplying fоr а mоrtgаge loan to purchase his own home. His credit score is well above the minimum 640 required by the lender. The appraised value of the house is $285,000 and purchase price of the house is $295,000. The maximum loan to value the mortgage lender allows is 95%. The mortgage lender's maximum front-end debt ratio allowed is 29% and maximum back-end debt ratio allowed is 41%.The lender is charging a one (1)-point origination fee and that is included in the total closing costs.  Closing costs total $5,000. How much will the lender lend to Boris if he goes to the maximum loan to value %?

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