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Estimate the affordable monthly mortgage payment, the affordable mortgage amount, and the affordable home purchase price for the following situation. Use Exhibit 7 - 6

Estimate the affordable monthly mortgage payment, the affordable mortgage amount, and the affordable home purchase price for the following situation. Use Exhibit 7-6, Exhibit 7-7.(Round your intermediate and final answers to the nearest whole dollar.)
Monthly gross income
Other debt (monthly payment)
25-year toan at
Down payment to be made (percent of purchase price)
Monthly estimate for property taxes and insurance
Affordable monthly mortgage payment
Affordable mortgage amount
Affordable home purchase
$3,460
$220
6 percent
15 percent
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