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by shortygirl on August 25th, 2009

shortygirl

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1. Assume that the highest payment you are willing to make is $1,300 per month. How much can you afford to borrow if you can get a 30 year loan at 6%?

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Answers. 1 helpful answer below.

  • by Old School on August 25th, 2009

    Old School

    There are numerous mortgage calculators all of the Internet that can help you determine this.

    By plugging some numbers into this one...

    http://mortgage.patelco.org/calculators/purchcalc_full_mthpymt.asp

    ...I found that you can borrow approximate $230,000 given the parameters you set.

    Good luck.

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