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Assume you are interested in purchasing a $350,000 house with the following characteristics: 80% Loan to Value Loan @ 4% interest (30yr, fully amortized) Property
Assume you are interested in purchasing a $350,000 house with the following characteristics:
- 80% Loan to Value Loan @ 4% interest (30yr, fully amortized)
- Property taxes = 1.2% of purchase price per year
- Homeowners Insurance = $1,000/yr
- Homeowners Association Dues = $200/mo
- Payment-to-Income Ratio = 28%
- Total Obligations-to-Income Ratio = 35%
- How much do you have to earn to afford this house (assuming zero consumer debt)
- Will you still be able to afford the house if you have $300/mo in student debt payments and a $200/mo car payment?
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Fundamentals of quality control and improvement
Authors: amitava mitra
3rd edition
470226536, 978-1-11849164, 978-0470226537
