jonathan is buying a new home. his lender will decide how much he is eligible to borrow based on his ______…

jonathan is buying a new home. his lender will decide how much he is eligible to borrow based on his ______ income, but test whether he can make his payments based on his ______ income. (1 point) net; total gross; net net; gross gross; taxable

jonathan is buying a new home. his lender will decide how much he is eligible to borrow based on his ______ income, but test whether he can make his payments based on his ______ income. (1 point) net; total gross; net net; gross gross; taxable

Answer

Brief Explanations:

Lenders consider gross income (total income before deductions) to determine borrowing - eligibility as it shows full earning potential. They use net income (income after deductions like taxes) to test payment - making ability as it's the actual amount available for payments.

Answer:

B. gross; net