General Mortgage KnowledgeQuestion 161 of 400
P&I is $900/month, annual taxes are $2,400, annual insurance is $1,200, and there is no PMI. What is the monthly PITI?
a.$1,200
b.$1,100
c.$1,300
d.$900
Explanation
PITI = $900 + ($2,400/12) + ($1,200/12) = $900 + $200 + $100 = $1,200. The other totals miscount the monthly escrow.
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