AMPC Designation Practice Questions - Accredited Mortgage Professional Of Canada Designation Exam

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A borrower has an annual gross income of $75,000. Their monthly mortgage payment (P&I) is $1,600, property taxes are $300/month, and heating costs are $100/month. What is their Gross Debt Service (GDS) ratio?

40% 35% 32% 25.6%

Correct Answer:

32%

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