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House Qualify Mortgage Payment

Total questions: 15

Worksheet time: 30mins

Name
Class
Date
1.

A couple earns $80,000 per year, or $_____ per month.

They can carry a maximum debt load of $_____ ($____ x .36 = $______)

They have a current debt of a monthly car payment of $175

They also have a tuition payment monthly for college of $455.

The couple can qualify for a $_____ mortgage payment ($_____ - $_____-_____ = $______.)

a)

$1770

b)

$1789

c)

$1754

d)

$1746

2.

A couple earns $120,000 per year, or $_____ per month.

They can carry a maximum debt load of $_____ ($____ x .36 = $______)

They have a current debt of a monthly car payment of $275

They also have a tuition payment monthly for college of $555.

The couple can qualify for a $_____ mortgage payment ($_____ - $_____-_____ = $______.)

a)

$2770

b)

$2789

c)

$2754

d)

$2746

3.

A couple earns $85,000 per year, or $_____ per month.

They can carry a maximum debt load of $_____ ($____ x .36 = $______)

They have a current debt of a monthly car payment of $375

They also have a tuition payment monthly for college of $855.

The couple can qualify for a $_____ mortgage payment ($_____ - $_____-_____ = $______.)

a)

$1320

b)

$1354

c)

$1648

d)

$2746

4.

A couple earns $252,000 per year, or $_____ per month.

They can carry a maximum debt load of $_____ ($____ x .36 = $______)

They have a current debt of a monthly car payments of $875

They also have a tuition payment monthly for college of $1,255.

The couple can qualify for a $_____ mortgage payment ($_____ - $_____-_____ = $______.)

a)

$5430

b)

$5231

c)

$5478

d)

$5471

5.

A couple earns $175,452 per year, or $_____ per month.

They can carry a maximum debt load of $_____ ($____ x .36 = $______)

They have a current debt of a monthly car payments of $775

They also have a tuition payment monthly for college of $785.

The couple can qualify for a $_____ mortgage payment ($_____ - $_____-_____ = $______.)

a)

$3703.56

b)

$3540.20

c)

$3578.32

d)

$3796.56

6.

A couple earns $95,752 per year, or $_____ per month.

They can carry a maximum debt load of $_____ ($____ per month x .36 = $______)

They have a current debt of a monthly:

total car payments of $675

tuition payment monthly for college of $685.

phone bill for $123.19.

The couple can qualify for a $_____ mortgage payment.

a)

$1389.37

b)

$1540.20

c)

$1378.32

d)

$1396.56

7.

A couple earns $75,832 per year, or $_____ per month.

They can carry a maximum debt load of $_____ ($____ per month x .36 = $______)

They have a current debt of a monthly:

total car payments of $275

tuition payment monthly for tech school of $285.

phone bill for $90.24.

The couple can qualify for a $_____ mortgage payment.

a)

$1624.72

b)

$1640.20

c)

$1578.32

d)

$1496.56

8.

A couple earns $85,832 per year, or $_____ per month.

They can carry a maximum debt load (34%) of $_____ ($____ per month x .34 = $______)

They have a current debt of a monthly:

total car payments of $145

tuition payment monthly for tech school of $385.

phone bill for $78.24.

The couple can qualify for a $_____ mortgage payment.

a)

$1823.67

b)

$1640.20

c)

$1878.32

d)

$1896.56

9.

A couple earns $105,992 per year, or $_____ per month.

They can carry a maximum debt load (35%) of $_____ ($____ per month x .35 = $______)

They have a current debt of a monthly:

total car payments of $142.98

tuition payment monthly for tech school of $175.56.

phone bill for $108.88.

The couple can qualify for a $_____ mortgage payment.

a)

$2664.01

b)

$2468.21

c)

$2878.32

d)

$2686.56

10.

A couple earns $134,145 per year, or $_____ per month.

They can carry a maximum debt load (32%) of $_____ ($____ per month x .32 = $______)

They have a current debt of a monthly:

total car payments of $842.98

tuition payment monthly for tech school of $475.56.

phone bill for $208.88.

The couple can qualify for a $_____ mortgage payment.

a)

$2049.78

b)

$2075.12

c)

$2032.12

d)

$2086.56

11.

A couple earns $64,145 per year, or $_____ per month.

They can carry a maximum debt load (31%) of $_____ ($____ per month x .31 = $______)

They have a current debt of a monthly:

total car payments of $313.54

tuition payment monthly for tech school of $175.56.

phone bill for $108.88.

The couple can qualify for a $_____ mortgage payment.

a)

$1058.10

b)

$1075.12

c)

$1032.12

d)

$1086.56

12.

A couple earns $78,985.13 per year, or $_____ per month.

They can carry a maximum debt load (35.5%) of $_____ ($____ per month x .355 = $______)

They have a current debt of a monthly:

total car payments of $323.54

tuition payment monthly for tech school of $245.56.

phone bill for $109.23.

The couple can qualify for a $_____ mortgage payment.

a)

$1658.31

b)

$1675.12

c)

$1632.12

d)

$1686.56

13.

A couple earns $85,985.90 per year, or $_____ per month.

They can carry a maximum debt load (33.5%) of $_____ ($____ per month x rate = $______)

They have a current debt of a monthly:

-total car payments of $329.54

-tuition payment monthly for tech school of $249.56.

-phone bill for $110.23.

-recurring credit card bill of $185.00

The couple can qualify for a $_____ mortgage payment.

a)

$1526.08

b)

$1575.12

c)

$1532.12

d)

$1586.56

14.

A couple earns $75,285.10 per year, or $_____ per month.

They can carry a maximum debt load (37.85%) of $_____ ($____ per month x rate = $______)

They have a current debt of a monthly:

-total car payments of $529.54

-tuition payment monthly for tech school of $349.56.

-phone bill for $75.23.

-recurring credit card bill of $205.00

The couple can qualify for a $_____ mortgage payment.

a)

$1215.29

b)

$1275.12

c)

$1232.12

d)

$1286.56

15.

A couple earns $201,985.66 per year, or $_____ per month.

They can carry a maximum debt load (39.12%) of $_____ ($____ per month x rate = $______)

They have a current debt of a monthly:

-total car payments of $829.53

-tuition payment monthly for tech school of $649.76.

-phone bill for $145.23.

-recurring credit card bill of $308.00

The couple can qualify for a $_____ mortgage payment.

a)

$4652.21

b)

$4275.12

c)

$4232.99

d)

$4686.56