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    drhodes47's Avatar
    drhodes47 Posts: 1, Reputation: 1
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    #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: 25,492, Reputation: 2853
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    #2

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

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