Question about Mortgages?
Dan and Sue Willingham have saved $14,000 for a down payment on their future home. Their bank has informed that the minimum down payment required to obtain a mortgage loan is 20%. What is the most that they can spend for a home and expect to receive bank approval for their loan?
- Poisson FishLv 68 years agoFavorite Answer
$14,000 / 0.2 = $70,000