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What is duane affordable home purchase price

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Duane Miller wants to know what price home he can afford. His annual gross income is $58,800. He has no other debt expenses and expects property taxes and insurance to cost $380 per month. He knows he can get a 6.50%, 15 year mortgage so his mortgage payment factor is 8.71. He expects to make a 25% down payment. What is Duane's affordable home purchase price?

Reference no: EM133048454

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