Finance
A Louisiana borrower's monthly principal and interest payment is $1,450, monthly property taxes are $340, and monthly homeowner's insurance is $120. What is the monthly PITI payment?
A$1,790
B$1,910✓ Correct
C$1,450
D$1,570
Explanation
PITI = Principal + Interest + Taxes + Insurance = $1,450 + $340 + $120 = $1,910. Using the values given ($1,450,, $340,), apply the appropriate formula..
Related Louisiana Finance Questions
- In Louisiana, a 'blanket mortgage' is used when:
- In Louisiana, which type of mortgage loan typically offers the lowest initial interest rate?
- In Louisiana, the 'note rate' on a mortgage differs from the 'APR' in that the APR:
- In Louisiana, a 'conventional mortgage' refers to:
- The 'secondary mortgage market' in Louisiana real estate primarily involves:
- In Louisiana, a 'wraparound mortgage' involves:
- What is a 'balloon mortgage'?
- In Louisiana, a 'construction-to-permanent loan' is beneficial because:
Practice More Louisiana Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Louisiana Quiz →