Luis wants to buy a home priced at $315,000. He plans to finance this amount less the down payment required. His mortgage payment would then be $2100. Luis has an annual income of $91,500 and $65,000 in savings. Luis has a car payment of $370, a student loan payment of $165 and a credit card payment of $45. Use a 20% down payment and the 28/36 ratio to determine if Luis is eligible for a loan. What would you advise him to do if he is not eligible? Answer options:

a. Luis is not eligible for a home loan; he should continue to save for a down payment.

b. Luis is eligible for a home loan, he meets the requirements

c. sorry i dont remember the rest of the options but they both c. and d. begin with "Luis is not eligible for a home loan, he should ..."

Please help & explain the right answer, thank you so much^^ 20 points!!