Real Estate Math
An Illinois buyer's annual gross income is $96,000. Using a 28% front-end DTI limit, what is the maximum allowable monthly housing payment?
A$2,240✓ Correct
B$2,688
C$1,920
D$8,000
Explanation
Monthly gross income = $96,000 ÷ 12 = $8,000. Maximum housing payment = $8,000 × 0.
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