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- Their financial records report a combined gross before-tax annual income of $125,000 and current (premortgage) installment loan, credit card, and car loan debt of $1,823 per month. - Their property taxes and homeowner's insurance policy are expected to cost $5,513 per year. - Their best estimate of the interest rate on their mortgage is 7.5%, and they are interested in obtaining a 15 -year loan. - They have accumulated savings of $56,500 that can be used to satisfy the home's down payment and closing costs. - The lender requires a minimum 20% down payment, and an affordability ratio that ranges from a minimum of 25% to a maximum of 30%. A table of monthly payments (necessary to repay a $10,000 loan) follows: (Note Uniess labeled differentiv, all of the following vatues represent doilar amounts. Also, some values calculated or used in the upper section of the tabie may aiso be used in the lower section.) (Note: Uniess labeled differentiy, all of the following values represent dollar amounts. Also, some values calculated or used in the upper section of the table may also be used in the lower section.) true? Auden and sesse qualify to purthave tinir 3245,000 target home occording to the Monthiy thcome Mfordabisty Workaheet oriterion. Aden and Jeise do not qualify to purchase their 3245,000 target home eccording to the Monthiy tncome Alfordaculy Worksheet oiterion

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