Jim has an annual income of $200,000. Jim is looking to buy a house with monthly property taxes of $500 and monthly homeowner's insurance of $300. Jim has $1,400 in monthly stulent loan payments and an average monthly credit card bill of $1,300. Apple bank has a maximum front end PTI limit of 45% and a maximum back end PTI limit of 50%. Jim will make the biggest mortgage payment he can that satisfies both the front end PTI limit and the back end PTI limit. Jim will get a fully amortizing 30 year FRM at an annual rate of 3.40%, with monthly payments, compounded monthly. What is the biggest mortgage loan Jim can get? Pick the closest number 2,100,000 1,205,580 1,523,550 1,080,860