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) 15-year loan 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 $ 3,470 $ 230 7 percent 20 percent $ 220

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.) Exhibit 7-7 Mortgage Payment Factors (principal and interest factors per $1,000 of loan amount)