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What is duane''s affordable home purchase price

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Duane Miller wants to know what price home he can afford. His gross annual income is $63,600. He has no other debt expenses and expects property taxes and insurance to cost $410 per month. He knows he can get a 9.50% 15 year mortgage so his mortgage payment factor is 10.44. He expects to make a 20% down payment. What is Duane's affordable home purchase price?

Reference no: EM132689204

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