Use the table to solve.Factors for loan qualification:ConventionalVAFHA
3. Credit score should be 650 or higher.The Anderson family is trying to qualify for a VA loan. Their gross monthly income is $3190. If they get the loan, their mortgage payment will be approximately $809. They have a credit score of 654. They have the following monthly debt payments:Credit card 1 = $126Car loan 2 = $431Student Loan = $47Do they qualify?
A. f.e.r. = 0.30, b.e.r. = 0.24; No
B. f.e.r. = 1.05, b.e.r. = 0.99; No
C. f.e.r. = 0.25, b.e.r. = 0.19; Yes
D. f.e.r. = 0.20, b.e.r. = 0.14; Yes
Answer: C
Mathematics
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What will be an ideal response?
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