With an income of $60,000 per year and no long-term debt, what is the maximum house price you could afford if the bank required that you satisfy the 28/36 rule and make a 20% down payment? Assume you would be obtaining a 30 year fixed rate loan at an interest rate on the loan would be 3%.


Assume that property taxes and insurance amount to $400 per month.How would you solve for this? It's rather confusing.

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