A borrower earns $8,000/month and makes credit card and car note payments of $900. A conventional lender requires a 30% income ratio. What monthly amount for housing expenses (principal, interest, taxes, insurance) will the lender allow this person to have to be able to qualify for a conventional mortgage loan?
a) $1,800
b) $2,000
c) $2,200
d) $2,400
