急急。。。求助 房地产金融与投资的一个计算题

Assume you are a mortgage broker and you have Bobby & Betty in your office. They want to take a mortgage loan to buy a condominium in Happyland. Each of them earns $2,500 per month (gross income). The current interest rate for a 30-year fixed rate mortgage loan is 5%.
The underwriting standards include the following: the maximum housing related expense to income ratio is 28% and the maximum debt to income ratio is 36%. They won’t buy mortgage insurance. Property taxes are about $3,000/year and home insurance is about $600/year.
Their other debt payments include a student loan of $150/month, a car loan of $300/month, and credit card minimum payment of $50/month.
They will have “gift funds” for the down payment and closing costs. The closing cost is 1% of the loan amount.


1) Bobby and Betty want to get “pre-qualified.” Please calculate the maximum loan amount that they qualify.
2) Please estimate how much the “gift funds” need to be.

第一问有点纠结是否与LTV又牵扯，第二问那个down payment怎么算

I hope this help. :)

cpamodeler 发表于 2014-5-19 23:55
I hope this help. :)

this is my answer, but I dont know how to choice the PMT, you said you got a mistake, where is it? can you explain it for me?  

wanglingqun 发表于 2014-5-20 17:58
this is my answer, but I dont know how to choice the PMT, you said you got a mistake, where is it? ...

Message underway.
Good luck buddy.

cpamodeler 发表于 2014-5-21 00:10
Message underway.
Good luck buddy.

Thx, but other points still need to be discussed

cpamodeler 发表于 2014-5-19 18:32
I hope this help. :)

Hi could you please kindly send your excel answer to me? coz I don't know how to download it. Thank you very much