Part A

You wish to purchase a home and have been very successful in saving $$12,000$ for a down payment.

You can get a $30$ year mortgage at a fixed rate of $11\mathrm{.}5\%.$ The most you can afford is $$630/$ month for payment.

What$$s the maximum you can pay for a house?

Part B

You plan to be married soon and your partner can contribute $$250/$month toward the monthly payment, but nothing toward the down payment.

Now what price can you afford to pay?

Part C

You have learned of a special bank offer to first$-$time home buyers. Interest rates will be dropped to $9\%$ for the life of the mortgage.

Now, what can you afford to pay?