Real Estate Math
A Connecticut home buyer is approved for a maximum monthly payment of $2,800 (PITI). Taxes are $425/month and insurance is $125/month. What is the maximum P&I payment available for the mortgage?
A$2,250✓ Correct
B$2,800
C$2,375
D$2,550
Explanation
PITI = P&I + Taxes + Insurance. $2,800 = P&I + $425 + $125.
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