Determine the maximum30-year fixed-rate mortgage amount for which a couple could qualify if the rate is 6.37 percent.
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Determine the maximum​ 30-year fixed-rate mortgage amount for which a couple could qualify if the rate is 6.37

percent. Assume they have other debt payments totaling ​$301 per month and a combined annual income of ​$56,400. Monthly escrow payments for real estate taxes and​ homeowner's insurance are estimated to be ​$263 (Assume a 36 percent maximum of annual income for total debt and escrow​ payments.)


The maximum​ 30-year fixed-rate mortgage amount for which a couple could qualify if the rate is 6.37​% is ​$___. ​(Round to the nearest​ dollar.)

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