If your monthly PITI plus other debt, interest, and taxes comes to $850 and your

Question

If your monthly PITI plus other debt, interest, and taxes comes to $850 and your gross monthly income is $5,200, about how much can you afford for a monthly mortgage payment? Answer                                                   
           $323                             
           $850                             
           $1,126                             
           $1,653                             
           $1,976 If your monthly PITI plus other debt, interest, and taxes comes to $850 and your gross monthly income is $5,200, about how much can you afford for a monthly mortgage payment? If your monthly PITI plus other debt, interest, and taxes comes to $850 and your gross monthly income is $5,200, about how much can you afford for a monthly mortgage payment? $323 $850 $1,126 $1,653 $1,976                             
           $323                             
           $850                             
           $1,126                             
           $1,653                             
           $1,976

Explanation / Answer

Maximum Monthly mortgae = 28% of PITI or 36% of PITI+ Debt etc

Monthly Income is 5200

So 36%of 5200 = $1,872

But PITI + Debt = 850 which is less than 36% of Monthly income.

So $850 is waht you can afford as monthly mortage payment

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