Jose and Rosa are looking for a condo. Their combined gross annual income is $72 000. The best mortgage rate offered by their bank is 3.02 percent five-year fixed rate compounded semi-annually with a 20-year amortization. The annual property taxes are estimated at $1460, and the annual heating costs are $1440. Their personal debt consumption is $700 per month. Condo fees are estimated at $500 per month. The bank’s guideline for TDS is 40 percent. Based on this information, what is the maximum monthly mortgage payment they could afford?