How much will you need to put down in order to buy the hours
Econometrics
You are going to purchase a house which costs $250,000. Your annual income is currently $60,000. The bank you are going to get the mortgage from uses a 28% qualifying rate (a maximum of 28% of your gross monthly income can go to your monthly payment). How much will you need to put down in order to buy this house? Use the following parameters: a)30 year mortgage b) 6% annual interest rate
