You can afford monthly payments of $500. If current mortgage rates are 3.49% for a 30 year fixed rate loan, how much can you afford to borrow? If you are required to make 10% down payment and you have the cash on hand to do it, how expensive a home can you afford?

You can afford monthly payments of $500. If current mongage rates are 3.49% for a 30 -year fixed rate loan, how much can you afford to borrow? if you are required to make a 10%. down payment and you have the cash on hand to do lt, how expensive a home can you alford? (Fint: You witt need to tolve the foan payment lormula for P.) How much can you aftord to bortow? (Round to the nesrest dolar as needed)