If a buyer refinances his loan, his monthly P&I will drop by $175 to $1,025. If his monthly real estate taxes are $125, his monthly homeowner’s insurance is $60, and his income is $72,000 annually. What was his previous housing expense?
A. 20%
B. 23%
C. 19%
D. 17%
Answer:B
If a buyer refinances his loan, his monthly P&I will drop by $175 to $1,025. If his monthly real estate taxes are $125, his monthly homeowner’s insurance is $60, and his income is $72,000 annually. What was his previous housing expense?
A. 20% B. 23% C. 19% D. 17%