Using the maximum ratios for a conventional mortgage, how big a monthly payment could the Ramos family afford if their gross $($before$-$tax$)$ monthly income amounted to $$5,000?($Hint: Monthly mortgage payments cannot exceed $25$ to $30$ percent of the borrower's monthly gross income and the borrower's total monthly installment loan payments $($including the mortgage payment$)$ cannot exceed $33$ percent to $38$ percent of monthly gross income.$)$

$ $$

Would it make any difference if they were already making a monthly installment loan payment of $$550$ on a car loan?

Maximum mortgage payment they could make would be $ $$