Real Estate Math
A Wisconsin lender requires reserves of 2 months PITI after closing. Monthly PITI is $1,850. How much must the buyer have in reserves?
A$1,850
B$2,700
C$3,700✓ Correct
D$4,200
Explanation
Reserves = 2 × $1,850 = $3,700. Using the values given ($1,850), apply the appropriate formula..
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