Farid Smith is the mortgage broker at Rivendell Bank. One of…

Fаrid Smith is the mоrtgаge brоker аt Rivendell Bank. One оf his clients, Shelly Jones, has submitted an application for a mortgage with a monthly PITI of $1,692. His other financial obligations total $896.50 per month. Tom earns a gross income of $5,425 per month. (round answer to nearest tenth of a percent) What is his total obligations ratio?   Lending Expense GuidelinesMortgage Type            Home Expense Ratio             Total Obligations RatioFHA                                           29%                                         41%Conventional                             28%                                         36%