Hi Chris.
If the lender will give you 65% of the price then you have to provide 35% of the price. You have $ 5 000, so that is your 35%. You need to figure out what total price this is. Let's call the total T:
35%T = $ 5 000
Now you can rearrange this to solve for T, your maximum purchase price. To figure out how much of this you'd be borrowing, just subtract the $5 000 you are putting up as the deposit.
Hope this helps!
Sue
