James and Kathryn Cameron want to buy a house for $420,000. The Camerons have a combined monthly income of $7,000, and are applying for a $336,000 loan with 5% annual interest, and a 30- year amortization schedule with monthly payments. They expect the property taxes to be $4,800 per year and hazard insurance payments to be $1,200 per year. In addition, the Camerons have a monthly student loan payment of $500, which is expected to continue for 30 years. Suppose the lender requires that the housing expense ratio (HER) be lower than 33% and the monthly payment ratio (MPR) be lower than 37%. Will the Camerons qualify for this loan? O No, because the HER is lower than 33%. Yes, because Susan's income is sufficient to make her monthly mortgage payments. O No, because HER is higher than 33%. O Yes, because both HER and MPR are lower than maximum allowed. O No, because MPR is higher than 37%. James and Kathryn Cameron want to buy a house for $420,000. The Camerons have a combined monthly income of $7,000, and are applying for a $336,000 loan with 5% annual interest, and a 30- year amortization schedule with monthly payments. They expect the property taxes to be $4,800 per year and hazard insurance payments to be $1,200 per year. In addition, the Camerons have a monthly student loan payment of $500, which is expected to continue for 30 years. Suppose the lender requires that the housing expense ratio (HER) be lower than 33% and the monthly payment ratio (MPR) be lower than 37%. Will the Camerons qualify for this loan? O No, because the HER is lower than 33%. Yes, because Susan's income is sufficient to make her monthly mortgage payments. O No, because HER is higher than 33%. O Yes, because both HER and MPR are lower than maximum allowed. O No, because MPR is higher than 37%