The Archibalds are eligible for CMHC mortgage loan insurance. Consequently, their limits are 95%…

The Archibalds are eligible for CMHC mortgage loan insurance. Consequently, their limits are 95% for the loan-to-value ratio, 32% for the GDS ratio, and 40% for the TDS ratio.

(a). Rounded to the nearest The Archibalds are eligible for CMHC mortgage loan insurance. Consequently, their limits are 95% for...-1100, what is the maximum 25-year mortgage loan for which they can qualify if their gross monthly income is The Archibalds are eligible for CMHC mortgage loan insurance. Consequently, their limits are 95% for...-15000 and their payments on personal debt amount to The Archibalds are eligible for CMHC mortgage loan insurance. Consequently, their limits are 95% for...-1600 per month? Assume monthly heating costs of The Archibalds are eligible for CMHC mortgage loan insurance. Consequently, their limits are 95% for...-1150 and property taxes of The Archibalds are eligible for CMHC mortgage loan insurance. Consequently, their limits are 95% for...-1200 per month. Current mortgage rates are 6.6% compounded semiannually.

(b). If they make the minimum down payment, what is the maximum price (rounded to the nearest The Archibalds are eligible for CMHC mortgage loan insurance. Consequently, their limits are 95% for...-1100) they can pay for a home? (Assume the purchase price equals the appraised value.)

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