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Joe and Jane are considering the 2/2 purchase of a home where the principal and interest will be $750.00 per month. The annual taxes on

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Joe and Jane are considering the 2/2 purchase of a home where the principal and interest will be $750.00 per month. The annual taxes on the property they are interested in are $1,800 and the annual insurance premium would be $240. They also have a car payment of $395.00 per month and a loan payment of $175.00 per month. Their combined weekly income is $900.00. Using the qualifying ratios of 28/36, will they qualify to buy this home? If not, what is the maximum principal and interest they can qualify for?*

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