Real Estate Math
A Nevada buyer's gross monthly income is $8,000. If the lender allows a maximum 43% back-end DTI, what is the maximum total monthly debt (including PITI)?
A$2,800
B$3,440✓ Correct
C$3,600
D$3,200
Explanation
Maximum total debt = 43% x $8,000 = $3,440. To solve this, multiply the relevant values: $8,000 at 43%.. The correct answer is $3,440.. This is a common calculation on the Nevada real estate exam.
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