Real Estate Math
A Florida buyer's gross monthly income is $8,000. The lender applies a 36% back-end DTI limit. The buyer already has $600/month in car payments and $200/month in student loans. What is the maximum mortgage payment (PITI)?
A$2,080✓ Correct
B$1,680
C$2,880
D$2,200
Explanation
Maximum total debt = $8,000 × 36% = $2,880. Existing debts = $600 + $200 = $800.
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