General Mortgage KnowledgeQuestion 129 of 400
P&I is $1,500/month, annual taxes are $4,800, and annual insurance is $1,800. There is no mortgage insurance. What is the monthly PITI?
a.$2,050
b.$1,950
c.$2,100
d.$1,500
Explanation
PITI = $1,500 + ($4,800/12) + ($1,800/12) = $1,500 + $400 + $150 = $2,050. The other totals miscount the monthly tax or insurance escrow.
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