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Estimate the affordable monthly mortgage payment, the affordable mortgage amount, and the affordable home purchase price for the following situation using the Total Debt Service

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Estimate the affordable monthly mortgage payment, the affordable mortgage amount, and the affordable home purchase price for the following situation using the Total Debt Service ratio. (Refer to Exhibit 7-7 and Exhibit 7-8) (Round time value factor to 2 decimal places, intermediate and final answers to the nearest dollar amounts. Omit the "$" sign in your response.) Monthly gross income Down payment to be made (percent of purchase price) Other debt (monthly payment) Monthly estimate for property taxes and insurance 25-year loan at $ 5,150 20 percent $ 300 $ 400 8.0 percent $ Affordable monthly mortgage payment Affordable mortgage amount Affordable home purchase price $

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