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Knowing that the bank will finance up to 80% LTV on a home with a FRM at 5.5% for 30 years (monthly payments) and that the maximum payment-to-income ratio is 28% and total obligations-to-income is 36% what price of home should you be looking at? Assume that your annual salary is $ 45000 property taxes will be about $ 2500/year hazard insurance $ 600/year. In addition you have a car loan for $ 300/month, student loans totaling $ 100/month, and credit card debt $ 200/month.

1 Thought on What price of home should you be looking at?
  1. Reply
    August 27, 2011 at 1:00 am

    about 350k tops, depending on your locale

    >>whoever thumbed me down has no idea what they are talking about.

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