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Dorothy and Matt are ready to puchase their first home. Their current monthly cash inflows are $4,900, and the current momnthly cash outflows are $3,650.
Dorothy and Matt are ready to puchase their first home. Their current monthly cash inflows are $4,900, and the current momnthly cash outflows are $3,650. Their rent makes up to $650 of their cash flows. They would like to put 10% of thei cash inflows in savings and put another $200 in their checking account for emergencies. How much of a mortgage payment can they manage under these conditions?
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