Real Estate Math
A Nebraska buyer has monthly gross income of $7,200. Using a 28% housing expense ratio, the maximum PITI payment is:
A$1,800
B$2,016✓ Correct
C$2,160
D$2,304
Explanation
Maximum PITI = $7,200 × 28% = $7,200 × 0.28 = $2,016. The front-end ratio limits housing expenses to a percentage of gross monthly income.
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