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How much house could afford

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Question 1: Bryan and his wife, Jane, both work and have a combined gross income of $165,000 per year. They estimate the property of taxes on their condo will be $2,100 and insurance would be about $1,500 per year. Jane has a car payment of $200 per month and they are both still paying off student loans for a combined total of $600 per month. Find out how much of a monthly mortgage Bryan and Jane can afford; suppose the couple can get a 30 -year loan with a rate of 3.5%, how much house could they afford based on the payment you found in part a?

Reference no: EM132586393

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