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You and your spouse have decided it is time to purchase a home. You have a total of $11,974 that you can use for a
You and your spouse have decided it is time to purchase a home. You have a total of $11,974 that you can use for a down payment and closing costs. Since you will not be paying rent, you will have $1,176 in your budget to pay a mortgage. Your agent tells you that total closing costs will be $2,000. Your monthly escrow for taxes and insurance will be $150 in addition to your mortgage payment. You will qualify for a 30 year mortgage at 5.5%. What is the maximum you can pay for your new home?
$190,674.93 |
$184,329.56 |
$192,395.73 |
$195,700.35 |
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