How much will you need to put down in order to buy the hous

Reference no: EM13212860

You are going to purchase a house which costs $250,000. Your annual income is currently $60,000. The bank you are going to get the mortgage from uses a 28% qualifying rate (a maximum of 28% of your gross monthly income can go to your monthly payment). How much will you need to put down in order to buy this house? Use the following parameters: a)30 year mortgage b) 6% annual interest rate

Reference no: EM13212860

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How much will you need to put down in order to buy the hous : You are going to purchase a house which costs $250,000. Your annual income is currently $60,000. The bank you are going to get the mortgage from uses a 28% qualifying rate (a maximum of 28% of your gross monthly income can go to your monthly payme..

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