Your monthly income is $10,000 per month. Your mortgage payment is $1600, student loan payments are $500, car payments are $400 and credit card payments (paying down a credit card debt) are $1000. You are thinking of taking out a home equity loan to remodel your house. In order to keep your debt to income ratio below 36%, what is highest monthly payment you could afford on the home equity loan? If the term of the loan is 5 years and the interest rate is 5%, what is the largest loan the lender will consider giving you?