Penny and Ernest want to purchase a new home for $250,000. Their combined income is $68,000, and they will make a down payment of $80,000. Taxes on the house are $1,800 per year and the heating cost is $1,300 annually. The house includes condo fees of $500. The couples other debt payments are $623 per month for their car loan and their student loan. In order to keep payments low, the mortgage will be amortized over 25 years. The interest rate on a 5-year mortgage term is 1.93%. What is their monthly mortgage payment? Select one: Martina and Anton are attempting to qualify for a mortgage with total mortgage financing (mortgage payment + property taxes) of $1486, heating costs of 5118 and a car loan payment of $346. What minimum gross monthly income will they need to have in order to qualify if the maximum debt service ratios allowed by the bank are a GDS of 32% and a TDS of 40%? Hint: Determine the required minimum gross monthly income for both the GDS and TDS calculation