Real Estate Math
A Mississippi buyer's lender allows a maximum 43% back-end DTI. If the buyer has $450/month in non-housing debt and earns $5,500/month gross, what is the maximum PITI payment?
A$1,785
B$2,365
C$1,915✓ Correct
D$2,000
Explanation
Maximum total debt = $5,500 × 43% = $2,365. Maximum PITI = $2,365 − $450 = $1,915. The. To solve this, multiply the relevant values: $450 and $5,500 at 43%.. The correct answer is $1,915.. This is a common calculation on the Mississippi real estate exam.
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