The potters want to buy a home costing $128,000 with annual insurance and taxes of $620 and $3000 respectively. They have saved $11,000 for a down payment and they can get a 5% 30-year mortgage. They are qualified for a home loan as long as the total monthly payment does not exceed $800. Determine whether they are qualified.

Their monthly payment would be?

Answer rating: 100% (QA)

Monthly payment Total Loan Amount Cost of the House Downpayment made 128000 11000 1170... View the full answer