Calculated Industries 3416 Manuel utilisateur

Pocket Reference Guide

Residential Mortgage Finance Calculator

MORTGAGE

QUALIFIER PLUS

Model 3416

The

ORTGAGE

UALIFIER

LUS

lets you

pre-qualify clients and calculate financial

problems with ease!

Quickly Solve:

• Time-Value-of-Money (TVM) Problems:

Find Loan Amount, Term, Interest,

Payment, Future Value

• Restricted/Unrestricted Qualifying

• Required Income/Debt

• Property Tax and Insurance, Mortgage

Insurance

• P&I and PITI payment

• Sales Price, Down Payment, and LTV

• Adjustable-Rate Mortgages

• Amortization and Remaining Balance

• Bi-Weekly Loans

• Date-Math Problems

• Combo Loans (80:10:10, 80:20)

• APR, including Mortgage Insurance

• Income Tax Savings and Rent vs. Buy

• Month Offset, Prepaid Interest

New!

• Interest-Only Payments

• Interest-Only Loan Qualifying

• Interest-Only (2nd TD) Combo Loans

MORTGAGE QUALIFIER PLUS®

KEY DEFINITIONS .................................1

EXAMPLES.............................................6

Monthly Mortgage (P&I) Payment .......6

Interest-Only Payment

(Calculation) ......................................6

Interest-Only Payment (Entry).............7

Term of a Loan ....................................7

Interest Rate........................................8

Loan Amount .......................................8

Loan Amount Based on Sales Price

and Down Payment...........................9

Date Example......................................9

Setting Tax and Insurance.................10

PITI Payment, Total Payment and

Interest-Only Payment ....................10

Quarterly Payment ............................12

Estimated Tax Savings......................13

Rent vs. Buy......................................14

ARM Payment —

Lifetime Cap

.........15

Amortization ......................................17

APR and Total Finance Charges,

Including Mortgage Insurance.........18

Appreciation ......................................19

Bi-Weekly Loans ...............................20

Setting Qualifying Ratios...................21

Qualifying Loan Amount ....................22

“Restricted” vs. “Unrestricted”

Qualifying ........................................24

TABLE OF CONTENTS

Qualifying Loan Amount

(Interest-Only Loan) ........................26

Income Required and Allowable

Monthly Debt ...................................27

80:10:10 Combo Loan vs. Fixed-Rate

Loan with Mortgage Insurance........28

80:20 Interest-Only Combo Loan ......32

APPENDIX ............................................34

Default Settings .................................34

Decimal Place Setting .......................35

Preference Settings...........................35

Batteries ............................................36

Reset .................................................36

OCKET

EFERENCE

UIDE

— 1

Note: This is a short “reference” guide. Please

see your large User’s Guide for detailed defini-

tions and examples.

:Colon separator

(used for

date, ARM adjustment,

qualifying ratios and

combo loans)

bBackspace key; for back-

ing up/deleting wrong entry

®Recalls or re-displays a

value when followed by a

chosen key

(e.g.,

® ˆ

will display current interest

value)

μMemory Function:

– μAdds value on dis-

play to Memory

– s μ Subtracts value

on display from Memory

– ® μ Recalls Memory

Total

– ® ® Recalls and

clears Memory Total

KEY DEFINITIONS

OCKET

EFERENCE

UIDE

— 2

sSets number of displayed

decimal places and acti-

vates 2nd functions

s – Change sign

s x Clear All

(Note: perform

with caution as it will

clear/reset stored values)

s = Preference mode

(see

Large User’s Guide for

details)

s ÷ Payments per year

(Default 12, for monthly)

s b Periodic

(identifies entry as

periodic rather than yearly)

s ) Month offset

s : Odd-days interest

s + Tax bracket %

s p Interest-Only Payment

entry/display

s P Rent vs. Buy

lLoan amount

pP&I, PITI, Total Payment,

and Interest-Only Payment

OCKET

EFERENCE

UIDE

— 3

TNumber of years

ˆAnnual interest rate

s l Future value

s ˆ APR

(annual percentage

rate)

, including mortgage

insurance, if entered

PHome’s sales price

dDown payment

s T Bi-Weekly loan

aAmortization function

s a Remaining balance

AAdjustable-rate mortgage

s A ARM decreasing interest

% adjustment

s % ARM lifetime interest cap%

qQualify based on

28%-36%

QQualify based on

31%-43%

iAnnual income

DLong-term,

monthly

debt

(e.g., car payment)

OCKET

EFERENCE

UIDE

— 4

tProperty Tax

(enter as per-

cent or dollar amount)

s t Estimated Tax

savings/after tax payment

IProperty/homeowner’s

Insurance

(enter as per-

cent or dollar amount)

s I Mortgage Insurance

(enter

as percent or dollar amount)

eMonthly Expenses

(such

as homeowner’s associa-

tion dues)

s d For entering

(or finding)

Loan-to-Value ratio and

computing respective

Down Payment and/or

Loan Amount

!Used to enter 1st TD

interest:term for Combo

Loans

s ! Used to enter 2nd TD

interest:term for Combo

Loans

OCKET

EFERENCE

UIDE

— 5

*Combo loan function for an

80:10:10 LTV loan*; calcu-

lates 1st/2nd TD values

and compares them to

entered fixed-rate loan

w/mortgage insurance

*You may enter any LTV

prior to pressing this key

(e.g., LTV of 90:5, enter

0 : 5 *

)

s * Interest-only 2nd TD combo

loan; operates similarly to

* function

OCKET

EFERENCE

UIDE

— 6

Monthly Mortgage (P&I) Payment

Find the monthly (P&I) payment on a 30-

year, fixed-rate loan of $265,000 at 6.75%

annual interest:

STEPS KEYSTROKES DISPLAY

Clear o o 0.00

Enter loan 2 6 5 ) l

265,000.00

Enter term 3 0 T 30.00

Enter interest 6 • 7 5 ˆ 6.75

Find payment p1,718.78

Interest – Only Payment (Calculation)

Find the interest-only payment on a loan

of $15,000 at 9% interest.

STEPS KEYSTROKES DISPLAY

Clear o o 0.00

Enter Loan 1 5 ) l 15,000.00

Enter Interest 9 ˆ 9.00

Find payment s p 112.50

EXAMPLES

Autres manuels pour 3416

Ce manuel convient aux modèles suivants

Table des matières

Autres manuels Calculated Industries Calculatrice

Calculated Industries

Calculated Industries 8525 Manuel utilisateur

Calculated Industries

Calculated Industries Construction Master 5 4050 Manuel utilisateur

Calculated Industries

Calculated Industries ElectriCalc Pro Manuel utilisateur

Calculated Industries

Calculated Industries 4088 Manuel utilisateur

Calculated Industries

Calculated Industries SCALE MASTER CLASSIC 6020 Manuel utilisateur

Calculated Industries

Calculated Industries 9130 Manuel utilisateur

Calculated Industries

Calculated Industries Kitchen Calc PRO Master Chef's Edition 8305 Manuel utilisateur

Calculated Industries

Calculated Industries Construction Master IV Manuel utilisateur

Calculated Industries

Calculated Industries ElectriCalc Pro Manuel utilisateur

Calculated Industries

Calculated Industries Tradesman Calc 4400 Manuel utilisateur

Calculated Industries

Calculated Industries ULTRA MEASURE MASTER 8020 Manuel utilisateur

Calculated Industries

Calculated Industries Sheet Metal/HVAC Pro Calc Manuel utilisateur

Calculated Industries

Calculated Industries Home ProjectCalc Manuel utilisateur

Calculated Industries

Calculated Industries ProjectCalc Plus MX 8528 Manuel utilisateur

Calculated Industries

Calculated Industries PROJECTCALC Manuel utilisateur

Calculated Industries

Calculated Industries Qualifier Plus IIcx Manuel utilisateur

Calculated Industries

Calculated Industries Pocket Handyman IV Manuel utilisateur

Calculated Industries

Calculated Industries PROJECTCALC CLASSIC 8503 Manuel utilisateur

Calculated Industries

Calculated Industries Ultra Scale Master 6250 Manuel utilisateur

Calculated Industries

Calculated Industries CONVERSIONCALC PLUS Manuel utilisateur

Calculated Industries

Calculated Industries 5060 Manuel utilisateur

Calculated Industries

Calculated Industries 8515 Manuel utilisateur

Calculated Industries

Calculated Industries Construction Master III Manuel utilisateur

Calculated Industries

Calculated Industries Construction Master IV Manuel utilisateur

Manuels Calculatrice populaires d'autres marques

HP 35s Manuel

Casio

Casio CFX-9970G Manuel utilisateur

LEXIBOOK

LEXIBOOK EL350 Manuel utilisateur

HP HP-97 Manuel utilisateur

Citizen

Citizen SDC-414N Manuel utilisateur

Casio

Casio fx-3800P Manuel utilisateur

Canon

Canon P26-DHIII Manuel utilisateur

Citizen

Citizen 520DPA Manuel utilisateur

Sharp

Sharp EL-9900 Manuel utilisateur

Casio

Casio FX-9860GII - SOFTWARE VERSION 2-00 Manuel utilisateur

Casio

Casio MS-7UC Manuel utilisateur

Sharp

Sharp WriteView EL-W506 Manuel technique

Casio

Casio FC-200 Manuel utilisateur

Casio

Casio fx-CG50 Manuel utilisateur

HP HP-67 Guide de l'utilisateur

Royal

Royal CBC2000 Manuel utilisateur

Heathkit

Heathkit IC-2009 Manuel utilisateur

Universal

Universal UNV-15907 Manuel utilisateur