Consider a borrower who has a gross income of $48,000 and is applying for a mortgage that requires monthly payments of $1,040. Taxes and insurance premiums for the pledged property total $1,200 per year. The borrower has no other outstanding loans on the property, but she has 24 monthly payments of $300.00 per month remaining on her car loan. Based on the Mortgage Debt Ratio (MDR) and Total Debt Ratio (TDR) limits for a conventional loan, does she qualify for the loan? Calculate both ratios.