john and jane are currently living in a two-bedroom apartment with their 5-year-old daughter sandy. their monthly rent is $900 per month on a yearly lease which will expire on june 30, 2022. in addition to the rent, they also pay utilities of $375 per month and $50 per month for rental insurance. they are interested in a three-bedroom single family home that is selling for $185,000. the property appraises for $190,000. chase bank has pre-approved them for a $200,000 mortgage. john and jane would like to put 15% as a down payment and take out a mortgage for the balance. real estate taxes are $5,000 per year. private mortgage insurance will cost $300 per year.