Real Estate Math
A Missouri buyer's debt-to-income ratio is 42%. Monthly gross income is $5,500. Maximum total monthly debt allowed is:
A$2,010
B$2,200
C$2,310✓ Correct
D$2,750
Explanation
Maximum total debt = $5,500 x 42% = $2,310. To solve this, multiply the relevant values: $5,500 at 42%..
Related Missouri Real Estate Math Questions
- A Missouri property manager collected $12,600 in rents for October. The management fee is 9%. The net remitted to the owner is:
- A Missouri commercial lease requires $4,500/month base rent plus 2% of annual gross sales. If annual sales are $800,000, what is the annual rent?
- A Missouri home sells for $198,500. The buyer puts 15% down. What is the LTV on the mortgage?
- Missouri residential property is assessed at 19% of market value. If a home has a market value of $220,000, what is the assessed value?
- A buyer's agent in Missouri earns 3% of the sales price. The home sold for $320,000. What is the agent's commission?
- A Missouri property management company charges 7% of collected rents plus a $500/month flat fee to manage a 20-unit apartment. Monthly rents total $18,000 and vacancy is 10%. What is the monthly management fee?
- A buyer in Missouri wants to determine the GRM for a property. It sold for $225,000 and rents for $1,500/month. What is the GRM?
- If a Missouri mortgage has a balance of $175,000 at 5.5% interest, what is the interest portion of the next monthly payment?
Practice More Missouri Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Missouri Quiz →