If a borrower’s income is $6,500 per month, his back-end DTI is 32%, and his monthly, non-housing related expenses amount to $1,115, what is the total of his housing expense?
A. $2,080
B. $965
C. $356.80
D. $4,160
Answer:B
If a borrower’s income is $6,500 per month, his back-end DTI is 32%, and his monthly, non-housing related expenses amount to $1,115, what is the total of his housing expense?
A. $2,080 B. $965 C. $356.80 D. $4,160