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Mr Irving has gross income of $48,000 per year. The 30 year mortgage rate Mr Irving qualified for is 7%. Further Mr Irving wants to

Mr Irving has gross income of $48,000 per year. The 30 year mortgage rate Mr Irving qualified for is 7%. Further Mr Irving wants to put an offer in on a house with annual property taxes of $3100 and an insurance premium of $800. Using the 28% rule on page 3.18 of Kier what is the maximum mortgage Mr. Irving should take out?

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