Question: 1. Using the maximum ratios for a conventional mortgage, how big a monthly payment could the Sanchex family. afford if their gross (before-tax) monthly income

1. Using the maximum ratios for a conventional mortgage, how big a monthly payment could the Sanchex family. afford if their gross (before-tax) monthly income amounted to $5,000 ? The range for mortgage payments over income is from 25 to 30 percent. A. Maximum monthly payment for a conventional mortgage 3pts What would be the maximum monthly payment for the Sanchez family if the range for the total of all instaliment payments is 33 to 38 percent and they had two auto loans totaling $800 in monthly payments. B. Maximum monthly payment for a conventional mortgage with auto loans 3 pts

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