WORKSHEET INFORMATION FOR 5.3,Home Affordability B) Saved to this PC w Help Tell me what you want to do AaBbCc AaBbC AaBbo MaBbcer AaB Aaebcet AaBbCc AaBbCc AaBb Heading 2 TaleSubtitle Subtle E... . Emphasis Intense i T NormalNo Sp Heading1 Styles WORKSHEET INFORMA TION FOR 5.3 Home Affordability (3) David and Donna Lincoln need to calculate the amount that they can afford to spend on their first home . They have a compined annual income of S47500 They have $27,000 available for a down payment and closing costs . The Lincolns estimate that homeowner's insurance and property taxes will be $250 per month They expect the mortgage lender to use a 30% (of monthly gross income) mortgage payment affordability ratio, to lend at an interest rate of 6% on a 30-year mortgage The lender will require a 15 percent down payment . Based on this information, use the home affordability analysis form in Worksheet 5,3 to determine the highest-priced home that the Lincolns can afford