Finance
When calculating the debt-to-income ratio for a Vermont mortgage application, which of the following debts would be included?
AUtility bills and cell phone payments
BMonthly minimum payments on credit cards, car loans, student loans, and the proposed mortgage✓ Correct
CGrocery and food expenses
DVoluntary retirement savings contributions
Explanation
Debt-to-income ratio calculations include all recurring monthly debt obligations: mortgage payment (PITI), credit card minimums, car loans, student loans, and other installment or revolving debts. Living expenses like utilities and groceries are not included.
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