Question: Determine the maximum 30- year fixed-rate for which a couple could qualify if the rate is 5.02 percent. Assume they have other debt payments totaling

Determine the maximum 30- year fixed-rate for which a couple could qualify if the rate is 5.02 percent. Assume they have other debt payments totaling $308 per month and a combined annual income of $74,900. Monthly escrow payments for real estate taxes and homeowners insurance are estimated to be $146. (Assume a 36 percent maximum of annual income for total debt and escrow payments)

Determine the maximum 30 year fixed-rate mortgage amount for which a couple could quality of the rate is 5 02 percent Assume they have other dobt payments totaling $308 per month and a combined annual income of $74,900 Monthly escrow payments for real estate taxes and homeowner's insurance are estimated to be $146 (Assume a 36 percent maximum of annual income for total debt and escrow payments) CHED The maximum 30-year fixed rate mortgage amount for which a couple could quality of the rate s 5,02% 5$ (Round to the nearest dollar)

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