Finance
A Wyoming buyer's monthly gross income is $7,500. A conventional lender applies a 28% front-end ratio. What is the maximum PITI payment?
A$1,750
B$2,000
C$2,100✓ Correct
D$2,500
Explanation
Maximum PITI = $7,500 × 28% = $2,100. The front-end ratio (housing ratio) compares the monthly housing expense to gross monthly income.
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