Can Aiden and Jesse Afford This Home Using the Monthly Income Loan Criterion? Next week, your friends Aiden and Jesse want to apply to the Tenth National Bank for a mortgage loan. They are considering the purchase of a hom that is expected to cost $125,000. Given your knowledge of personal finance, they've asked for your help in completing the Home Affordability Worksheet that follows. (Note: When completing the form, round each dollar amount to the nearest whole dollar.) To assist in the preparation of the worksheet, Aiden and Jesse also collected the following information: - Their financial records report a combined gross before-tax annual income of $105,000 and current (premortgage) installment loan, credit card, and car loan debt of $1,531 per month. - Their property taxes and homeowner's insurance policy are expected to cost $3,125 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 $32,500 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: Unless labeled differently, 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.) Given these results, which statement regarding Aiden and lesse's mortgage qualification process and their purchase of their $125,000 target home is true? Aiden and Jesse do not qualify to purchase their $125,000 target home according to the Monthly Income Affordability Worksheet criterion. Aiden and Jesse qualify to purchase their $125,000 target home according to the Monthly Income Affordability Worksheet criterion