MM Zillow Mortgage Practice

Modern Math Mortgage Practice

by Julie Johnson

​Woodridge House

Open Ended

How much do you think this house is on the market for?

• ​Monthly Income: $9,520

• ​House Insurance per month: $120

• ​Taxes per month: $625

• ​Car payment(s): $315

• ​Student loans: $450

• ​20% Down Payment

• 3.4% interest for 30 years

​Woodridge House

Multiple Choice

Using the 28% rule, would the bank give this loan?

• YES :-)

• NO :-(

Florida Keys House

Open Ended

How much do you think this house is on the market for?

Florida Keys House

• ​Monthly Income: $13,000

• ​House Insurance per month: $216

• ​Taxes per month: $108

• ​Car payment(s): $410

• ​Student loans: None!

• ​​15% Down Payment

• 3.1% interest for 30 years

Multiple Choice

Using the 28% rule, would the bank give this loan?

• YES :-)

• NO :-(

Fort Myers House

Open Ended

How much do you think this house is on the market for?

​Fort Myers House

• ​Monthly Income: $10,300

• ​House Insurance per month:

• ​Taxes per month: $380

  ​​​20% Down Payment

• 3.1% interest

Denver House

Open Ended

How much do you think this house is on the market for?

​Denver House

• ​Monthly Income: $7000

• ​House Insurance

per month: $201

• ​Taxes per month: $101

• ​Car payment(s): $250

• ​Student loans: $375

• ​10% Down Payment

• 3.52% interest for 30 years

Multiple Choice

Using the 28% rule, would the bank give this loan?

• YES :-)

• NO :-(