Ask Experts Questions for FREE Help !
Ask
    drhodes47's Avatar
    drhodes47 Posts: 1, Reputation: 1
    New Member
     
    #1

    May 18, 2014, 05:37 PM
    Using the maximum ratios for conventional mortgage, how big a monthly payment could t
    Using the maximum ratios for conventional mortgage, how big a monthly payment could the Taylor family afford if their gross (before tax) monthly income amounted to $3,500? Would it make any difference if they were already making installment loan payments totaling $750 on two cars?
    smoothy's Avatar
    smoothy Posts: 25,495, Reputation: 2853
    Uber Member
     
    #2

    May 18, 2014, 05:44 PM
    I've seen conventional mortgages as high as 18.5% in the 80's

Not your question? Ask your question View similar questions

 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Adjusting entries the mortgage contract provides for a monthly payment of $1000 [ 8 Answers ]

The mortgage contract provides for a monthly payment of $1000 plus accrued interest. The June payment was not made. Interst of $280 is accrued on the mortgage. Someone please help with the adjusting entries

Mortgage interest payment monthly [ 6 Answers ]

I would like to find out how much the interest charge would be on a mortgage of 350,00.00 by the month on 30 year fixed.

Can lump sum payment & refinancing reduce monthly mortgage? [ 2 Answers ]

What's the best way to make use of $100,00 cash when you have a mortgage balance of $370,000 and cannot afford the monthly payment due to the death of a spouse and loss of income - pay down the mortgage balance and then refinance at a lower interest rate? Or what?:confused:


View more questions Search