Calculated Industries Qualifier Plus IIIx Betriebsanweisung PDF herunterladen (Seite 37)

36 — Q

UALIFIER

LUS

III

Rent vs. Buy

If your client is currently renting a home for $1,250/month, what is

the comparable home sales price and loan amount that he or she

could afford? What is the estimated annual and monthly income tax

savings, if they were to finance this mortgage? The current rate is

7.5% on a 30-term Fixed-Rate Mortgage, and your client can afford

to put 10% down. You estimate local taxes at 1.25% and property

insurance at 0.35%. Your client is in the 28% tax bracket.

STEPS KEYSTROKES DISPLAY

Clear calculator o o 0.00

Enter interest rate 7 • 5 ˆ 7.50

Enter term 3 0 T 30.00

Enter down payment 1 0 d 10.00

Enter tax bracket 2 8 s + 28.00

Enter property tax rate 1 • 2 5 t 1.25

Enter insurance rate • 3 5 I 0.35

Enter current monthly rent to find

comparable home price 1 2 5 0 s P 216,781.98

Find comparable loan

amount P 195,103.78

Find PITI payment P 1,653.24

Find annual tax savings P 4,838.84

Find monthly tax savings P 403.24

Re-display tax bracket P 28.00

Re-display monthly rent P 1,250.00

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Calculated Industries Qualifier Plus IIIx Betriebsanweisung Seite 37