You have annual gross income of $30.0000; 30-year mortgage rates are 5%; how large a FHA mortgage can you qualify for (assuming you have a 5% down payment)? (Assume annual payments for simplicity and that property taxes etc. are $5.000 per year.)^1 Fill in the blanks in the following ARM example. The amount is $1,000,000; the initial rate is 3%; the maturity is 5 years; alter year 1 the rate is the 1-year government rate plus 2% with a cap of 6.5%. You have annual gross income of $30.0000; 30-year mortgage rates are 5%; how large a FHA mortgage can you qualify for (assuming you have a 5% down payment)? (Assume annual payments for simplicity and that property taxes etc. are $5.000 per year.)^1 Fill in the blanks in the following ARM example. The amount is $1,000,000; the initial rate is 3%; the maturity is 5 years; alter year 1 the rate is the 1-year government rate plus 2% with a cap of 6.5%