Certified Mortgage Planning Specialist (CMPS)

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A mortgage planner is calculating a client's back-end debt-to-income (DTI) ratio. The client has a gross monthly income of $8,000. Their proposed monthly mortgage payment (PITI) is $2,200. They also have a $450 monthly car payment, a $250 monthly student loan payment, and minimum credit card payments totaling $150. What is their back-end DTI ratio?

38.1% 27.5% 40.6% 35.6%

Correct Answer:

40.6%

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