What is the maximum house price that she can afford

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Reference no: EM133433842

Question: Interest rate for a 5-year fixed rate mortgage is 4.5%, and the qualification process is based on mortgage rate + 2%. If heating costs are fixed at $120 a month, and property taxes are $4000 a year, what is the maximum house price that she can afford? (Notice that you must consider the CMHC insurance premium)

Reference no: EM133433842

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