Calculated Industries Qualifier Plus IIIx Betriebsanweisung PDF herunterladen (Seite 60)

SER

’

UIDE

— 59

Finding Income Required and Allowable Monthly Debt

Using the stored q 28%:36% ratios, how much income would a

buyer need to finance a $250,000 home if they put 20% down?

What is the maximum allowable debt? What is the dollar down pay-

ment and loan amount? What is the monthly payment? Use 6.75%

interest for 30 years. Estimate property tax/insurance rates of 1.5%

and 0.25%, respectively. Clear mortgage insurance rate to zero, as

they are putting 20% down.

STEPS KEYSTROKES DISPLAY

Clear calculator o o 0.00

Enter annual interest 6 • 7 5 ˆ 6.75

Enter term in years 3 0 T 30.00

Enter tax rate 1 • 5 t 1.50

Enter insurance rate • 2 5 I 0.25

Delete mortgage

insurance rate 0 s I 0.00

Enter sales price 2 5 0 ) P 250,000.00

Enter down payment % 2 0 d 20.00

Find dollar down payment d 50,000.00

Find loan amount l 200,000.00

Display qualifying ratios q 28.00-36.00

Find income required q “run” 71,219.12

Find maximum allowable

monthly debt q “run” 474.79

Find P&I payment p 1,297.20

Find PITI payment p 1,661.78

1 2 ... 55 56 57 58 59 60 61 62 63 64 65 ... 76 77

Keine Kommentare

Calculated Industries Qualifier Plus IIIx Betriebsanweisung Seite 60