License Math 3 Flashcards
Finance
1
Q
Points
A
1% of the loan amount (.01)
2
Q
Loan Constant
A
= (Monthly Payment / Loan amount) x 1000
3
Q
Loan to Value Ration (LTV)
A
=Loan / Price
4
Q
Income Ratio
A
=Monthly PI payment / Monthly gross income
5
Q
Debt Ratio
A
=(Housing expense + Other debt payment) / Monthly gross income
