A graduating student is looking to buy a house. They have a 600 credit score and have $6,000 for a down payment. They contact an agent and find a house they like for $150,000. Then they contact a lender to apply for the loan and find that an FHA is their best option. If FHA lending rates for 30-year fixed-rate mortgages on single-family owner-occupied homes is 4.5%, with $1500 for fees and no points. Taxes are 85 Effective Mills. How much will the graduating student need at closing and how much will be their monthly PITI payment including the MIP?