Real Estate Math
A borrower has a gross monthly income of $6,500. Using a maximum front-end DTI of 28%, what is the maximum monthly housing payment (PITI) allowed?
A$1,625
B$1,820✓ Correct
C$1,950
D$2,080
Explanation
Maximum PITI = $6,500 × 28% = $1,820. To solve this, multiply the relevant values: $6,500 at 28%.. The correct answer is $1,820.. This is a common calculation on the Idaho real estate exam.
Related Idaho Real Estate Math Questions
- An Idaho commercial building has 15,000 leasable square feet. The owner wants a minimum $22/sq ft annually in base rent. The tenant is offered a 5-year lease at $20/sq ft with 3% annual escalations. After 5 years, what is the annual rent per square foot?
- A commercial space is leased at $22 per square foot per year (NNN). The tenant's share is 3,500 square feet. What is the tenant's monthly base rent?
- What is the total interest paid on a $100,000 fully amortizing 30-year loan at 6% if the monthly payment is $599.55?
- A property has a $180,000 mortgage balance at 7.5% annual interest. What is the monthly interest portion of the first payment?
- A 120-unit apartment complex has a 6% vacancy rate. Each occupied unit rents for $950/month. Annual operating expenses are $540,000. What is the NOI?
- An Idaho property owner pays property taxes of $4,380 annually. If the tax rate is 1.2% of assessed value, what is the assessed value?
- A property is assessed at 80% of its market value of $300,000. The property tax rate is $12 per $1,000 of assessed value. What is the annual property tax?
- A borrower makes an extra $500 principal payment each month on a $250,000 mortgage. Approximately how many years of payments might this save? (Assume a standard 30-year term is shortened significantly by extra principal)
Practice More Idaho Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Idaho Quiz →