Calculated-industries 3416 User Guide Manuel d'utilisateur télécharger pdf (Page 11)

6 — M

ORTGAGE

UALIFIER

LUS

Tax, Insurance and Expense Keys

In addition to Qualifying, the following keys are also involved in PITI

or total payment calculations (e.g., they are added to the monthly

payment):

Property Tax

— Used for calculating PITI and Total

payment, and Qualifying. Stores estimated annual

property tax in either percent or dollar amount. If

entered as an annual dollar amount, a press of ®

and t converts to the monthly tax amount, and

pressing t again converts to the annual percent-

age rate. If entered as a percentage, pressing ®

t converts to the annual dollar amount, and

pressing t once more shows the monthly tax.

Note: Entering a number equal to or less than 10 is assumed to

be an annual percentage. Property tax is calculated from the

sales price (therefore, you should also enter a Down Payment).

Property Insurance

— Used for calculating PITI

and Total payment, and Qualifying. Stores estimated

annual property (or homeowner’s) insurance in

either percent or dollar amount. If entered as an

annual dollar amount, a press of ® and I con-

verts to the monthly insurance amount or premium,

and pressing I again converts to the annual per-

centage rate. If entered as a percentage, pressing

® I converts to the annual dollar amount, and

pressing I once more shows the monthly insurance.

Note: Entering a number equal to or less than 10 is assumed to

be an annual percentage. Property insurance is calculated from

the sales price (therefore, you should also enter a Down Payment).

s I

Mortgage Insurance (Mtg Ins)

— Used for calculat-

ing PITI and Total payment, and Qualifying. Stores

estimated annual mortgage insurance (or Private

Mortgage Insurance) in either percent or dollar

amount. If entered as an annual dollar amount, a

press of ® and s I converts to the monthly

mortgage insurance amount or premium, and press-

ing I again converts to the annual percentage

rate. If entered as a percentage, pressing ® s

I converts to the annual dollar amount, and press-

ing I once more shows the monthly insurance.

Note: Entering a number equal to or less than 10 is assumed to

be an annual percentage. Mortgage insurance is calculated from

the loan amount.

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Calculated-industries 3416 User Guide Manuel d'utilisateur Page 11

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