Unformatted text preview: Yearly tax = ______ Monthly tax = ________ 6) Calculate your yearly insurance premium (for fire protection) using the chart on p. 279. Assume you are taking 80% replacement Value. Round replacement value to the nearest 10,000 dollars in order to use the chart. 80% x value = ____________ round to $10,000 = __________ fire insurance = _________ Use the chart on p. 277, determine the amount of insurance required for a) personal property ____________ b) loss of use ___________ c) garage _____________ total insurance for the year = ______________ monthly cost = _________ 7) Calculate your total monthly payment for this abode. _____________ 8) FHA guidelines state that you should spend < 35% of your monthly net income. Based on your monthly payments, how much would you need to earn yearly (after taxes) to support your house?...
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- Summer '06
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