1. Calculate how much money a prospective homeowner would need for closing costs on a house that costs $117,100. Calculate based on a 15 percent down payment, 1.8 discount points on the loan, a 1.1 point one origination fee, and $1,320 in other fees.

The closing cost would be $:

2. Determine the maximum 30-year fixed-rate mortgage amount for which a couple could qualify if the rate is 6.68 percent. Assume they have other debt payments totaling $439 per month and a combined annual income of $70,700. Monthly escrow payments for real estate taxes and homeowner's insurance are estimated to be $245. (Assume a 36 percent maximum of annual income for total debt and escrow payments.)

The maximum 30-year fixed-rate mortgage amount for which a couple could qualify if the rate is 6.68% is $?