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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

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.

Monthly gross income $ 2,650
Down payment to be made (percent of purchase price) 20 percent
Other debt (monthly payment) $ 145
Monthly estimate for property taxes and insurance $ 230
25-year loan at 7.0 percent

Affordable monthly mortgage payment $
Affordable mortgage amount $
Affordable home purchase price $

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