A couple found a house selling for ​$112 comma 500 .
The taxes on the house are ​$1200

per​ year, and insurance is ​$320

per year. They are requesting a conventional loan from the local bank. The bank is currently requiring a​ 15% down payment and 3​ points, and the interest rate is​ 10%. The ​ couple's gross monthly income is ​$4950
.
They have more than 10 monthly payments remaining on a​ car, a​ boat, and furniture. The total monthly payments for these items is ​$430
.
Their bank will approve a loan that has a total monthly mortgage payment of​ principal, interest, property​ taxes, and​ homeowners' insurance that is less than or equal to​ 28% of their adjusted monthly income. Complete parts ​a) through ​g) below.
​a) Determine the required down payment.
The required down payment is ​$nothing
.