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1 1 . Can I afford this home? - Part 1 Can Maria and Sam Afford This Home Using the Monthly Income Loan Criterion? Next

11. Can I afford this home? - Part 1
Can Maria and Sam Afford This Home Using the Monthly Income Loan Criterion?
Next week, your friends Maria and Sam want to apply to the Fifth State Bank for a mortgage loan. They are considering the purchase of a home that is expected to cost $125,000. Given your knowledge of personal finance, theyve asked for your help in completing the Home Affordability Worksheet that follows. (Note: When completing the form, round each dollar amount to the nearest whole dollar.)
To assist in the preparation of the worksheet, Maria and Sam also collected the following information:

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