You are trying to buy a new house with a market$/$appraisal value of $$600,000.$ The Bank of Endicott is willing to a write a mortgage at an $80\%$ LTV$.$

The mortgage would be $30$ years with an $8\mathrm{.}00\%$ rate.

What would the down payment $($home equity$)$ amount you must contribute to the purchase? Question Blank $1$ of $3$

What would be the monthly mortgage payment? Question Blank $2$ of $3$

What is the Min Gross Annual Income that the bank would require for you to be earning to afford the mortgage?