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, (Do not round intermediate calculations. Round your answers to the nearest whole dollar.) Exhibit 7-6 Housing Affordability and Mortgage Qualification Amount NOTE. The two ratios lending institutions use (step 2) and other loan requirements may vary based on a variety of tactors, including the type of mortgage. the amount of the down payment, your income level, credit score, and curent interest rates. For example, with a down payment of 10 percent or more and a credit score exceeding 720 , the ratios might increase to 40/45 percent in this exhibit. Exhibit 7-7 Mortgage Payment Factors (principal and interest factors per $1,000 of loan amount)