Their financial records report a combined gross before-tax annual income of $85,000 and current (premortgage) installment loan, credit card, and car loan debt of $1,240 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%. iven these results, which statement regarding Edison and Hilary's mortgage qualification process and the purchase of their $155,000 target home is Edison and Hilary do not qualify to purchase their $155,000 target home according to the Monthly fncorne Affordabelity Worksheet criterion. Edison and Hilary qualify to purchase their $15$,000 target home according to the Monthly Income Affordability Worksheet criterion