of 2 Mortgage Affordability. Paul will be able to save $235 per month (which can be used for mortgage payments) for the indefinite future. If Paul finances the remaining cost of a $83,000 home, after making a $16.600 down payment, (amount to finance $66,400) at a rate of 5% over 30 years, what are his resulting monthly mortgage payments? Can he afford the mortgage? Paul's resulting monthly mortgage payment is $ (Use your financial calculator and round to the nearest cent.)