1)Which would be the best mortgage option if you anticipate a windfall in the next year or two?

A.A oneyear closed fixedrate mortgage

B.A closed twoyear VRM

C.A closed convertible fiveyear VRM

D.An open variablerate mortgage

2)Principal, interest, and property taxes on a mortgage are $1209, with heating costs of $68 and condo fees of $180 monthly. The borrower also has a student loan with $100 monthly payments. If the gross debt service ratio required is 32 percent, what will be the lowest monthly income that will qualify for the mortgage financing?

A.$4584

B.$3991

C.$4553

D.$4272