Question: Determine the maximum 30-year fixed rate mortgage amount for which a couple could qualify if the rate is 6.65 percent. Assume they have other debt

Determine the maximum 30-year fixed rate mortgage amount for which a couple could qualify if the rate is 6.65 percent. Assume they have other debt payments totaling 5463 per month and a combined annual income of $79,600 Monthly escrow payments for real estate taxes and homeowner's insurance are estimated to be $271. (Assume a 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 of the rate is 6 65% I $ (Round to the nearest dollar)

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