suburbs of their rapidly developing city. They've decided they can afford a $425,000 house and hope to find one with the features they desire in a good neighborhood. saving for the purchase of a home and now have $47,000 in their savings account. 1. How much would the Bissets have to put down if the lender required a minimum 15 percent down payment? Round the answer to the nearest cent. $ Could they afford it? 2. Given that the Bissets want to put only $27,000 down, how much would total closing costs be? Down payment should be taken into account. Round the answer to the nearest cent. $ Considering only principal and interest, how much would their monthly mortgage payments be? Round the answer to the nearest cent. $ Would they qualify for a loan using a 30 percent affordability ratio? 3. Using a $27,000 down payment on a $225,000 home, what would the Bissets' loan-to-value ratio be? Round to two decimal places. % Calculate the monthly mortgage payments on a PITI basis. Round the answer to the nearest cent. $ 4. What recommendations would you make to the Bissets? Explain. The input in the box below will not be graded, but may be reviewed and considered by your instructor. suburbs of their rapidly developing city. They've decided they can afford a $425,000 house and hope to find one with the features they desire in a good neighborhood. saving for the purchase of a home and now have $47,000 in their savings account. 1. How much would the Bissets have to put down if the lender required a minimum 15 percent down payment? Round the answer to the nearest cent. $ Could they afford it? 2. Given that the Bissets want to put only $27,000 down, how much would total closing costs be? Down payment should be taken into account. Round the answer to the nearest cent. $ Considering only principal and interest, how much would their monthly mortgage payments be? Round the answer to the nearest cent. $ Would they qualify for a loan using a 30 percent affordability ratio? 3. Using a $27,000 down payment on a $225,000 home, what would the Bissets' loan-to-value ratio be? Round to two decimal places. % Calculate the monthly mortgage payments on a PITI basis. Round the answer to the nearest cent. $ 4. What recommendations would you make to the Bissets? Explain. The input in the box below will not be graded, but may be reviewed and considered by your instructor