Question: Determine the maximum 30 year fixed-rate mortgage amount for which a couple could quality if the rate is 665 percent. Assume they have other debt

Determine the maximum 30 year fixed-rate mortgage amount for which a couple could quality if the rate is 665 percent. Assume they have other debt payments totaling $463 per month and a combined annual income of 579,600 Monthly escrow payments for real estate taxes and homeowner's insurance are estimated to be $271 (Assume # 36 percent maximum of annual income for total debt and escrow payments) The maximum 30-year fixed-rate mortgage amount for which a couple could quality if the rate 66% $(Round to the nearest dollar)

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