Married couple earning a combined gross income of $85,000 and an after tax income of $68,000 are looking into purchasing a house. Would like to put 12% down. Have shopped around for a loan and believe the best terms that they could get are a fixed rate of interest equal to 5% for 30 years. PMI is equal to 1.2% for the first year and 0.3% thereafter. They will have to pay two points, $700 in fees and title insurance equal to $3.10 per thousand. By showing your work, answer the following: 1. The maximum loan is equal to _________________________. 2. The maximum purchase price equals _______________________. 3. The savings needed are equal to __________________________.