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( 4 points ) The bank will not approve your mortgage loan if your monthly payment is greater than 2 8 % of your GROSS

(4

points

)

The bank will not approve your mortgage loan if your monthly payment is greater than

28 %

of your GROSS MONTHLY income. Find the maximum amount you can pay each month for your mortgage. This will be your monthly payment budget. My grows mouty income is

6, 875.00

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