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What is the maximum mortgage payment you can have

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Reference no: EM132679216

You bank with HSBC. You have been told by your personal banker that HSBC will require that your TDS be no more than 40%. Your gross monthly income is $5,000, and your total monthly consumer debt is $1,000 and your monthly mortgage related debt ( except the actual mortgage payment ) is 500$. What is the maximum mortgage payment you can have? Hint: Use the golden rule of equation solving.

Reference no: EM132679216

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