Calculated-industries 3416 User Guide Manuel d'utilisateur télécharger pdf (Page 63)

58 — M

ORTGAGE

UALIFIER

LUS

Qualifying Loan Amount (Interest-Only Loan)

Using the same values from the previous example, find qualifying

loan amount, price, and total payment for an interest-only loan:

STEPS KEYSTROKES DISPLAY

Clear o o 0.00

Enter income 7 5 ) i 75,000.00

Enter debt 5 0 0 D 500.00

Enter down 5 ) d 5,000.00

Set tax% 1 • 5 t 1.50

Set ins% • 2 5 I 0.25

Set MI% • 6 s I 0.60

Enter association

dues 5 0 e 50.00

Enter interest 6 • 7 5 ˆ 6.75

Enter term 3 0 T 30.00

Display ratios s q 28.00 - 36.00

Find qualifying loan

amount q 223,214.29

Find price P 228,214.29

— DO NOT CLEAR CALCULATOR —

Find the monthly P&I payment, PITI payment, total payment, and

Interest-Only payment:

STEPS KEYSTROKES DISPLAY

I/O payment s p 1,255.58

P&I payment p 1,447.76

PITI payment p 1,892.18

Total payment p 1,942.18

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Calculated-industries 3416 User Guide Manuel d'utilisateur Page 63