Determine the affordable monthly mortgage payment

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Reference no: EM1355469

Estimate the affordable monthly mortgage payment, the affordable mortgage amount, and the affordable home purchase price for the following situation:
Monthly gross income $2,950
Down payment to be made- 15% of purchase price
Other debt(monthly payment) $160
Monthly estimate for property taxes and insurance $210
30 year loan at 8%

Reference no: EM1355469

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