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What is the maximum they can afford to pay for a home

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Question - The Brians have $79488 in savings available for up-front costs on a home purchase. They qualified for a 30-year mortgage at 5.5% APR. They also expect closing costs to total $3312. They have budgeted $2760 per month to allocate to housing costs, including monthly non financing costs of $158 for homeowner's insurance, $658 for property taxes, $142 for repairs, and $60 for maintenance. What is the maximum they can afford to pay for a home?

Reference no: EM133152765

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