Question: Determine the maximum 30-year fixed-rate mortgage amount for which a couple could qualify if the rate is 4.38 percent. Assume they have other debt payments

Determine the maximum 30-year fixed-rate mortgage amount for which a couple could qualify if the rate is 4.38 percent. Assume they have other debt payments totaling $336 per month and a combined annual income of $66,100. Monthly escrow payments for real estate taxes and homeowner's insurance are estimated to be $108. 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 qualify if the rate is 4.38% is $?

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