Finance
A South Carolina borrower's debt-to-income (DTI) ratio is used to:
ADetermine the property's assessed value
BAssess the borrower's ability to repay the loan✓ Correct
CCalculate property taxes
DDetermine the loan-to-value ratio
Explanation
DTI measures the percentage of a borrower's gross monthly income that goes toward debt payments. Lenders use it to assess repayment ability; most conventional loans require a DTI of 43% or less.
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