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 $ 3,100

Other debt (monthly payment) $ 175

15-year loan at 6 percent

Down payment to be made (percent of purchase price) 15 percent

Monthly estimate for property taxes and insurance $ 225