Real Estate Math
A New Mexico buyer qualifies for a loan up to 28% of their gross monthly income for PITI. If they earn $6,000/month, what is the maximum monthly PITI?
A$1,400
B$1,680✓ Correct
C$2,100
D$2,400
Explanation
$6,000 × 0.28 = $1,680 maximum monthly PITI payment (principal, interest, taxes, and insurance).
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