Next week, your friends Ryan and Sophia want to apply to the Fourth Global Bank for a mortgage loan. They are considering the purchase of a home that is expected to cost $155,000. Given your knowledge of personal finance, they've asked for your help in completing the Home Affordability Worksheet that follows. To assist in the preparation of the worksheet, Ryan and Sophia also collected the following information: Their financial records report a combined gross before-tax annual income of $125,000 and current installment loan, credit card, and car loan debt of $1,823 per month. Their property taxes and homeowner's insurance policy are expected to cost $1,550 per year. Their best estimate of the interest rate on their mortgage is 7.5%, and they are interested in obtaining a 15-year loan. They have accumulated savings of $38,500 that can be used to satisfy the home's down payment and closing costs. The lender requires a minimum 20% down payment, and an affordability ratio that ranges from a minimum of 25% to a maximum of 30%. A table of monthly payments (necessary to repay a $10, 000 loan) follows: Also, some values calculated or used in the upper section of the table may also be used in the lower section. Given these results, which statement regarding Ryan and Sophia's mortgage qualification process and their purchase of their $155,000 target home is true? Ryan and Sophia do not qualify to purchase their $155,000 target home according to the Monthly Income Affordability Worksheet criterion. Ryan and Sophia qualify to purchase their $155,000 target home according to the Monthly Income Affordability Worksheet criterion