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Assume your monthly income is $4,500 and you have recurring debts of $500 per month. Property tax and insurance are estimated at $320 per month.
- Assume your monthly income is $4,500 and you have recurring debts of $500 per month. Property tax and insurance are estimated at $320 per month. If you want to buy a house by making 20% down payment and the interest rate on a 30 year mortgage is 6%, what is the value of the home you can afford? Show all steps clearly and solve.
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Heres how to calculate the maximum value of a home you can afford based on your income debts and desired down payment 1 Calculate Total Monthly Debt Recurring debts 500month Property tax and insurance ...
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Personal Finance
Authors: Thomas Garman, Raymond Forgue
12th edition
9781305176409, 1133595839, 1305176405, 978-1133595830
