Suppose your total gross income per month is $6,000/month. Assuming that property taxes, homeowner's insurance and mortgage insurance payment total of 300/month. In addition, you have car and student loan payments that total $500 a month. If 30 year fixed rate mortgages have a current annual percentage rate of 5.5%, how much do you qualify to borrow based on the performance to income ratios given you have enough money to pay 20% down payment?