A house on Floyd Street was listed for $$349,900\mathrm{.}00.$ Mary the buyer$$s agent showed John the house on Floyd. John loved the house and made an offer of $$353,000\mathrm{.}00.$ The seller accepted John$$s offer. John is trying to get a Conventional conforming loan, which means John will need to put down $20\%$ of the sale price. John has turned to Mary to ask a few questions and will he qualify for this property?

Here is the information John gave Mary:

John$$s Income is $$150,000/$year$,$ his debts are $$350\mathrm{.}00$ in school loans per month, $$295\mathrm{.}00$ in a monthly car payment. John has a total of $$450\mathrm{.}00($this is his minimum monthly payment$)$ in credit card debt which he pays monthly. John has no alimony, child support or child care expenses.

Mary also gathers information from John$$s lender to figure out the payment for John and if he can qualify for this property.

Here is the information Mary gathered

John is getting a $30$ year fixed loan with an interest rate of $4\mathrm{.}5\%.$ The taxes on this property is $$4350$ per year, his insurance will be $$1450$ per year. There isn't any PMI. And the HOA fee is $$50\mathrm{.}00$ per month.

Worth up to $25$ points.