Real Estate Math
An Alaska buyer's monthly housing payment is $2,400. Their gross monthly income is $8,000. What is their front-end (housing) debt-to-income ratio?
A25%
B28%
C30%✓ Correct
D33%
Explanation
Front-end DTI = Housing Payment ÷ Gross Monthly Income = $2,400 ÷ $8,000 = 30%. Using the values given ($2,400, $8,000), apply the appropriate formula..
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