Mortgage Loan

How to calculate some mortgage problems.?

Posted by admin on June 22, 2010 Leave a comment (1) Go to comments

I need to find the maximum mortgage i can get from a 6.5% mortgage for 30 years.
Im given this information:
i make 60,000 a year
i have a 40,000 trust fund
i make 5,000 a month ( i did this calculation myself)
and the maximum monthly payment i can make is 1,400. ( i did this calculation myself)

Ok i need how to do it mathmatically. The worked shown. Thanks I need tons of help im on aol messenger: warfront1

Thanks in advance

Bankrate.com then show the chart.