Estimate the affordable monthly mortgage payment, the affordable mortgage amount, and the affordable home purchase price for the following situation. Use Exhibit 7-6, Exhibit 7-7. (Round your intermediate and final answers to the nearest whole dollar.) Monthly gross income Other debt (monthly payment) 20-year loan at Down payment to be made (percent of purchase price) Monthly estimate for property taxes and insurance $ 3,455 $ 215 7 percent 20 percent $ 250 | Affordable monthly mortgage payment Affordable mortgage amount Affordable home purchase Exhibit 7-7 30 Years 25 Years 20 Years 15 Years $4.22 $4.74 Mortgage Payment Factors (principal and interest factors per $1,000 of loan amount) Term Rate 3.0% 3.5 4.0 4.5 4.49 4.77 5.01 5.28 $6.91 7.15 7.40 5.07 5.56 $5.55 5.80 6.06 6.33 6.60 6.88 7.16 7.65 5.0 5.37 7.91 5.5 8.17 6.0 5.68 6.00 6.32 8.44 6.5 5.85 6.14 6.44 6.75 7.07 7.39 7.72 7.0 6.65 7.46 7.75 8.06 8.71 8.99 9.27 7.5 6.99 8.0 7.34 8.36 9.56 Estimate the affordable monthly mortgage payment, the affordable mortgage amount, and the affordable home purchase price for the following situation. Use Exhibit 7-6, Exhibit 7-7. (Round your intermediate and final answers to the nearest whole dollar.) Monthly gross income Other debt (monthly payment) 20-year loan at Down payment to be made (percent of purchase price) Monthly estimate for property taxes and insurance $ 3,455 $ 215 7 percent 20 percent $ 250 | Affordable monthly mortgage payment Affordable mortgage amount Affordable home purchase Exhibit 7-7 30 Years 25 Years 20 Years 15 Years $4.22 $4.74 Mortgage Payment Factors (principal and interest factors per $1,000 of loan amount) Term Rate 3.0% 3.5 4.0 4.5 4.49 4.77 5.01 5.28 $6.91 7.15 7.40 5.07 5.56 $5.55 5.80 6.06 6.33 6.60 6.88 7.16 7.65 5.0 5.37 7.91 5.5 8.17 6.0 5.68 6.00 6.32 8.44 6.5 5.85 6.14 6.44 6.75 7.07 7.39 7.72 7.0 6.65 7.46 7.75 8.06 8.71 8.99 9.27 7.5 6.99 8.0 7.34 8.36 9.56