Jackson pays $2200 Mortgage Payment, $400 Property tax, $250 Maintenance fees, $100 Heating, $200 credit card fees and $350 of personal loan payment per month. His salary is $5000 a month and he also earns $1500 rent from his basement. Calculate GDS Ratio. (Answer Format: 32.78%)
Mortgages
A mortgage is a formal agreement in which a bank or other financial institution lends cash at interest in return for assuming the title to the debtor's property, on the condition that the obligation is paid in full.
Mortgage
The term "mortgage" is a type of loan that a borrower takes to maintain his house or any form of assets and he agrees to return the amount in a particular period of time to the lender usually in a series of regular equally monthly, quarterly, or half-yearly payments.
Jackson pays $2200 Mortgage Payment, $400 Property tax, $250 Maintenance fees, $100 Heating, $200 credit card fees and $350 of personal loan payment per month. His salary is $5000 a month and he also earns $1500 rent from his basement. Calculate GDS Ratio. (Answer Format: 32.78%)
Step by step
Solved in 3 steps
