This is one full question, Fill in the YELLOW highlighted boxes $1\mathrm{.}2-1\mathrm{.}10$SHOW EXCEL CELL FORMULAS

Ann wants a mortgage to buy a house. Ann gives the following information to the bank:

Income: $$240k/$ year or $20k\frac{?}{?}$ month

Average monthly debt: $$2k$

Estimated monthly Taxes $+$ Insurance: $$700$

Down$-$payment: $$50k$ saved

$-$Ann's down$-$payment will be $$50k,$ she will take out a mortgage for the remainder

Ann qualifies for a $30$ year FA$-$CPM$-$FRM $($monthly payments & monthly compounding$)$ with:

Annual interest rate: $4\%$

Income test: $(28\frac{\%}{36}\%)$

Collateral test: $LTV95\%B_{0}19**D{P}_0$

Closing costs $+$ buy$-$down points: $$5,000+1\mathrm{.}75\%$ of the balance at origination.

$-$Example: if Ann gets a $$100k$ mortgage, she will pay $$5k+$$$1\mathrm{.}75k=$$$6\mathrm{.}75k$ at origination.

$1$ Underwriting

$1\mathrm{.}1$: Fill in the spreadsheet $($sheet "Underwriting"$)$ for Ann.

$1\mathrm{.}2$: based on the FE DTI what is the biggest payment Ann can make?

$1\mathrm{.}3$: based on the BE DTI what is the biggest payment Ann can make?

$1\mathrm{.}4$: based on both the FE & BE DTI what is the biggest payment Ann can make?

$1\mathrm{.}5$: based on both the FE & BE DTI what is the biggest loan Ann can get?

$1\mathrm{.}6$: based the LTV test and Ann's $$50$k down$-$payment, what is the biggest loan Ann can get?

$1\mathrm{.}7$: based on the income & collateral tests, what is the biggest loan Ann can get?

$1\mathrm{.}8$: based on the income & collateral tests, what is the biggest payment Ann can make?

$1\mathrm{.}9$: if Ann makes a $50$k down$-$payment, how much house can Ann afford?

$1\mathrm{.}10$: how much are Ann's total mortgage closing costs?