A debt-to-income ratio is a measurement used by lenders to measure a borrower’s ability to repay a loan.
What is a debt-to-income ratio?(1 point)
Responses
the value of the borrower’s assets that determine the borrower’s financial worth
the value of the borrower’s assets that determine the borrower’s financial worth
the borrower’s monthly income divided by the borrower’s monthly payments
the borrower’s monthly income divided by the borrower’s monthly payments
a measurement used by lenders to measure a borrower’s ability to repay a loan
a measurement used by lenders to measure a borrower’s ability to repay a loan
a percentage of the loaned funds paid to the lender by the borrower in addition to the principal
3 answers
Which type of loan is typically used to buy the home in which a person lives?(1 point)
Responses
mortgage
mortgage
credit card
credit card
student loan
student loan
business loan
business loan
Responses
mortgage
mortgage
credit card
credit card
student loan
student loan
business loan
business loan
The type of loan typically used to buy the home in which a person lives is a mortgage.