Renters/Bankers Rule
If Dakota makes $21.45 an hour. How much should he spend on one month's rent?
$858.00 or less
Chris wants to buy a $134,000 house and he puts a 20% down payment, how much is that down payment?
$26,800
December- 65183
January- 65386
How many units were used?
653
What is the monthly payment on a 14.50% 30 year mortgage for $67,000?
$820.75
Death-10
Years-15
Mortgage-$40,000
$19,600
If John's income is $678 every 2 weeks. how much can he afford for one month of rent?
$339.00 or less
Bill wants to buy a $75,000 house and he puts 10% down, how much is that down payment?
$7,500
May- 68184
June- 68700
How many units were used?
516
What is the monthly payment on a 13.25% 25 year mortgage for $10,000?
$114.70
Death-20
Years-20
Mortgage-$70,000
$5,600
If Linda pay $750 per month for rent how much would she pay in 1 year?
$9,000
Greg wants to buy a $50,731 house and put a 60% down payment, how much is that down payment?
$30,438.60
April- 67611
May- 68184
How many units were used and how much does it cost if each unit is $.25
Units used=573
Cost= $143.25
What is the total amount repaid on a mortgage for $78,000 at 12.75% for 20 years
$216,028.80
Death-30
Years-30
Mortgage-$150,000
$10,500
Joe plans to buy a house. He earns $56,631 a year. Use the banker's rule to find how much he can borrow.
$141,577.50
If Will wants to buy a $45,000 house and puts 12% down. How much is he actually borrowing?
$39,600
September- 71875
October- 73245
How many units were used and how much does it cost if each unit is $.25
Units used= 1370
Cost= $342.50
What is the total amount repaid on a mortgage for $25,000 at 14.00% for 25 years
$93,000
Area-A
Construction- Brick
Value of House-$67,000
$241.20
Barb makes $24,521 a year how much can she afford for a house using the bankers rule?
$61,302.50
If Ruth wants to buy a $165,050 and puts 20% down. How much is her mortgage?
$132,040
July- 0465
August- 0499
How much does it cost if each unit is $.13
$4.42
What is the total amount repaid on a mortgage for $156,000 at 13.75% for 20 years
$459,014.40
Area- C
Construction- Wood
Value of House-$99,900
$443.56