Finance
An Oregon borrower's monthly gross income is $8,500. Their total monthly debt payments (including PITI) are $3,400. What is their back-end (total) DTI ratio?
A35%
B40%✓ Correct
C45%
D50%
Explanation
Back-end DTI = Total monthly debt payments ÷ Gross monthly income = $3,400 ÷ $8,500 = 0.40 = 40%.
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