Real Estate Math
What is the debt-to-income ratio for a Delaware borrower with $1,850 housing payment, $350 car payment, $250 student loan payment, and $6,500 gross monthly income?
A37.7%✓ Correct
B38.5%
C40.2%
D28.5%
Explanation
Total monthly debt = $1,850 + $350 + $250 = $2,450. DTI = $2,450 ÷ $6,500 = 0.
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