1. Calculate the total savings expected from the refinancing for each of the three loans mentioned in Question 10.
2. Do they qualify for any of the loans in Question 10 if the bank requires a total housing cost ratio less than 28% and a total debt-to-payments income ratio of 36%?
3. If they do not qualify for any of the loans in Question 10 because the lender counts only $82,000 of income, what actions should they consider in order to qualify?