Suppose your annual income is $60,000 and your lender will allow you to have a mortgage payment that is no more than 38% of your monthly income after making other debt payments and paying property taxes, which in your case amount to $600 per month. If the current 30 -year mortgage rate is 6%, approximately how large a mortgage can you qualify for (assuming you have the required cash for the necessary down payment)? $216800 $226800 $236800 $246800 $256800