Finance
A Mississippi homebuyer's loan application shows a gross monthly income of $5,500. The proposed PITI payment is $1,430. The front-end (housing) DTI ratio is approximately:
A28%
B26%✓ Correct
C32%
D22%
Explanation
Front-end DTI = PITI ÷ Gross Monthly Income = $1,430 ÷ $5,500 = 0.26 = 26%.
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