You are ready to purchase your first home. Your annual salary is $42,000. You have been able
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You are ready to purchase your first home. Your annual salary is $42,000. You have been able to save $15,000 for a down payment, and the only debt you currently owe is your student loan with a payment of $150 a month and your car payment of $350 a month.
a) Given your current situation, how much can you afford for a house payment?
b) If you no longer have a car payment, what monthly mortgage payment could you qualify for, given your outstanding credit history?
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Related Book For
Personal Finance Building Your Future
ISBN: 978-0073530659
1st edition
Authors: Robert B. Walker, Kristy P. Walker
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