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Business, 24.10.2019 02:00 shakebays

Aman is looking to purchase a home in the cleveland suburbs. he has enough for a 20% down payment and an income of $70,000 per year. his fico score is 660. the prime interest rate for 30-year mortgages is 5%. he has a car payment of $400 per month and a student loan payment of $200 per month. the home he finds has 70 effective property tax mills and homeowner’s insurance costs $50 per month on every $100,000 of home value. how much can the man pay for the home? how large of a mortgage will the bank allow him take out?

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Aman is looking to purchase a home in the cleveland suburbs. he has enough for a 20% down payment an...
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