Question

A buyer anticipates a house payment of $1,000 per month, with monthly homeowner association fees of $150. The buyer also has a car payment of $400 per month. If the buyer earns a monthly gross income of $5,000, what's the housing ratio?

Answer 1

23% (1150:5000)

Step-by-step explanation:

$1000+$150=$1150, the monthly home owner association fees and home owner payment falls under the house ratio and car payment doesn't include in the house ratiio

$1150:$5000 =0.23 ×100=23%