Sky has saved up $10,000 for a downpayment on her first home. She expects property taxes to be $210 per month, insurance to be $120 per month, and PMI to be $175 per month. She has been approved for a 7.36% interest rate on a 30 year fixed mortgage.
Question 5 Needs Answer
Question 5 (1 point)
Retake question
If Sky wants to keep her monthly payment at or below $1,600 per month what is the most expensive house she can purchase? Round DOWN to the nearest $500. (Hint: every time you put in a new price you will need to reenter the downpayment and property tax amounts)