Calculated-industries 3416 User Guide Manuel d'utilisateur télécharger pdf (Page 40)

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Adjustable Rate Mortgages

Using the A key, you can quickly find the “adjusted” (increasing or

decreasing) payments for future years on fully and partially amor-

tized Adjustable Rate Mortgages. Here are some notes on Solving

ARM loans using this calculator:

1. You solve the initial ARM payment just as you would for any

standard, fixed-rate loan — the ARM function is only used for

“adjusted” periods.

2. The “split” Interest : Term Adjustment entry for ARMs should

be entered on an annual basis (although you can also enter a 6-

month adjustment term as .5). This value is permanently stored

in memory.

3. After performing an ARM calculation, your permanently stored

values for Term and Interest will be changed, since performing

an ARM alters these values.

4. To calculate a “decreasing ARM,” enter the two ARM parame-

ters, but press the s key before pressing A.

5. The calculator includes a “lifetime cap” (i.e., the maximum

amount the interest rate may increase over the life of a loan).

Prior to setting your ARM parameters, key in the maximum life-

time interest increase followed by s %. This permanently

sets the lifetime cap. To restore the cap to “0” enter 0 s %.

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Calculated-industries 3416 User Guide Manuel d'utilisateur Page 40