Carlos earns a gross income of $5,580 per month and applies for a mortgage with a monthly PITI of $1,339.20. Carlos has other financial obligations totaling $764.46 per month. If the lending ratio...

Extracted text: Carlos earns a gross income of $5,580 per month and applies for a mortgage with a monthly PITI of $1,339.20. Carlos has other financial obligations totaling $764.46 per month. If the lending ratio guidelines are as given in the table below. Lending Ratio Guidelines Mortgage Type Housing Expense Ratio Total Obligations Ratio FHA 29% 41% Conventional 28% 36% What type of mortgage, if any, would Carlos qualify for? O Carlos qualifies for an FHA mortgage under the lending guidelines, but not a conventional mortgage. O Carlos qualifies for a conventional mortgage under the lending guidelines, but not an FHA mortgage. O Carlos qualifies for both an FHA mortgage and a conventional mortgage under the lending guidelines. O Carlos qualifies for neither an FHA mortgage and a conventional mortgage under the lending guidelines.