Real Estate Math

A Texas home has a monthly mortgage payment (P&I) of $1,850 and annual insurance of $1,800, and annual taxes of $4,200. What is the total monthly PITI?

A$2,350

B$2,400✓ Correct

C$2,350

D$2,500

Explanation

Monthly taxes = $4,200 ÷ 12 = $350. Monthly insurance = $1,800 ÷ 12 = $150. PITI = $1,850 + $350 + $150 = $2,350. Answer A and C are the same ($2,350); closest unique answer is $2,400 (B) — the correct total is $2,350.

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