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Certified Mortgage Processor (NAMP®-CMP)

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A borrower has a gross monthly income of $7,000. Their monthly liabilities include a $500 car payment, a $250 student loan payment, and a $150 minimum credit card payment. The proposed new housing payment (PITI) is $2,100. What is the borrower's back-end debt-to-income (DTI) ratio?
Correct Answer:
43%

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