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You new job in Texas pays you $ 1 2 0 , 0 0 0 per year and you realize condo prices in Dallas are
You new job in Texas pays you $ per year and you realize condo prices in Dallas are reasonable compared to anywhere on the East Coast. As a result, you decide to try to buy a condo rather than rent an apartment. Your real estate agent urges you to get prequalified for the most mortgage you can and introduces you to her boyfriend who happens to be a mortgage broker.
He explains that you can devote up to of your pretax income towards your total monthly payments. You identify your car payment of $ per month, car insurance of $ per month, student loan payments of $ per month and budget that Condo fees will be $ per month.
If year fixed rate mortgages are yielding what is the most mortgage loan you can get?
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