Calculated-industries 3420 User Guide Bedienungsanleitung PDF herunterladen (Seite 53)

52 — Q

UALIFIER

LUS

III

Finding Income Required and Allowable Monthly Debt

Using the 32%:40% ratios, how much income would a buyer need to

finance a $180,000 home, if they put 35% down? What is the maxi-

mum allowable debt? What is the dollar down payment and mort-

gage amount? What is the monthly payment? Use 7.05% interest for

25 years. Estimate property tax rate at 1.5% and $80 for monthly

heating expense.

STEPS KEYSTROKES DISPLAY

Clear calculator o o 0.00

Enter annual Interest 7 • 0 5 ˆ 7.05

Enter Term in years 2 5 T 25.00

Enter Tax rate 1 • 5 t 1.50

Enter mo. heating Expense 8 0 e 80.00

Enter sales Price 1 8 0 ) P 180,000.00

Enter Down Payment % 3 5 d 35.00

Find Down Payment $ d 63,000.00

Find Mortgage Amount l 117,000.00

Display Qualifying Ratios q 32.00-40.00

Find Income required q “run” 42,303.80

Find maximum allowable

monthly Debt q “run” 282.03

Find P&I Payment p 823.10

Find PITH Payment p p “run” 1,128.10

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Calculated-industries 3420 User Guide Bedienungsanleitung Seite 53