Real Estate Math
An Oklahoma buyer's monthly gross income is $6,200. The lender allows a 36% total DTI. The buyer has $450/month in existing debt. What is the maximum monthly housing payment?
A$1,782✓ Correct
B$1,782.00
C$1,832
D$1,932
Explanation
Maximum total debt payments = $6,200 x 36% = $2,232. Existing debt = $450.
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