Question: Sometime in the future I plan on purchasing my first house. My bank is currently offering a 30 year mortgage at a fixed rate of

Sometime in the future I plan on purchasing my first house. My bank is currently offering a 30 year mortgage at a fixed rate of 3.5%. My annual salary is $45,000 a year and I want to keep my monthly mortgage payment at 20% of my annual income. With the information above how much can I afford a month for my mortgage payment?

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