Calculated-industries 3416 Pocket Reference Guide Instrukcja Użytkownika

Pocket Reference GuideResidential Mortgage Finance CalculatorMORTGAGEQUALIFIER PLUS®Model 3416

POCKET REFERENCE GUIDE — 6Monthly Mortgage (P&I) PaymentFind the monthly (P&I) payment on a 30-year, fixed-rate loan of $265,000 at 6.75%annua

POCKET REFERENCE GUIDE — 7Interest – Only Payment (Entry)How much can you borrow if the interestrate is 7% on a 30-year interest–onlymortgage and you

POCKET REFERENCE GUIDE — 8Interest RateFind the interest rate on a mortgage if theloan amount is $98,500, term is 30 yearsand payment is $1,150 a mont

POCKET REFERENCE GUIDE — 9Enter new interestrate 6 ˆ 6.00Find new loanamount l 250,187.42Loan Amount Based on Sales Priceand Down PaymentFind both $

POCKET REFERENCE GUIDE — 10Setting Tax and InsuranceEnter an annual property tax rate of 1.5%,a property/homeowner’s insurance rate of0.25% and a mort

POCKET REFERENCE GUIDE — 11STEPS KEYSTROKES DISPLAYClear o o 0.00Enter term 3 0 T 30.00Enter interest 6 • 2 5 ˆ 6.25Enter price 3 2 5 ) P325,000.00Dow

POCKET REFERENCE GUIDE — 12Quarterly PaymentFind the quarterly payment on a 10-yearloan of $15,000 with an annual interestrate of 12%:STEPS KEYSTROKES

POCKET REFERENCE GUIDE — 13Estimated Tax Savings• Loan: $150,000• Buyer’s tax bracket: 28%• Term: 30 years• Interest: 8%• Property taxes: $1,500• Prop

POCKET REFERENCE GUIDE — 14Rent vs. Buy• Term: 30 years Tax: 1.25%• Interest: 7.5% Ins: 0.35%• Down: 10% Tax bracket: 30%If your client is currently

POCKET REFERENCE GUIDE — 15ARM Payment — Lifetime Cap• Loan: $230,000• Term: 30 years• Interest: 7.25%• Lifetime cap: 4%• ARM Interest Adjustment: 1%

The MORTGAGE QUALIFIER PLUSlets youpre-qualify clients and calculate financialproblems with ease! Quickly Solve:• Time-Value-of-Money (TVM) Problems:F

POCKET REFERENCE GUIDE — 16(Cont’d)STEPS KEYSTROKES DISPLAYFind 3rd “adjusted”payment A 3 2,043.26Find 4th “adjusted”payment A 4 2,204.68 M*Find

POCKET REFERENCE GUIDE — 17Amortization• Loan: $300,000• Term: 30 years• Interest: 7.5% Find total interest and principal for the lifeof the loan:STEP

POCKET REFERENCE GUIDE — 18APR and Total Finance Charges,Including Mortgage Insurance • Loan: $250,000• Term: 30 years• Interest: 7%• Cost: 1.5 points

POCKET REFERENCE GUIDE — 19AppreciationWhat will a $350,000 home’s value be in 3years, figuring an inflation or appreciationrate of 6%? STEPS KEYSTROK

POCKET REFERENCE GUIDE — 20Bi-Weekly Loans• Loan: $212,500• Term: 30 years• Interest: 7.85%Find the Bi-Weekly term, savings, interestsavings, total co

POCKET REFERENCE GUIDE — 21Setting Qualifying RatiosEnter new qualifying ratios of 30% forIncome and 38% for Debt in q:STEPS KEYSTROKES DISPLAYClear

POCKET REFERENCE GUIDE — 22Qualifying Loan Amount• Buyer’s income: $75,000• Monthly debt: $500 • Down$: $5,000 • Property taxes: 1.5%• Property insura

POCKET REFERENCE GUIDE — 23Find qualifying loanamount q 189,119.31Find price P 194,119.31— DO NOT CLEAR CALCULATOR —Find the monthly P&I payment a

POCKET REFERENCE GUIDE — 24“Restricted” vs. “Unrestricted” Qualifying• Buyer’s income: $68,000• Monthly debt: $750 • Down$: $5,000 • Property taxes: 1

POCKET REFERENCE GUIDE — 25Re-enter MI% • 6 s I 0.60Re-enter homeowner’sdues 5 0 e 50.00Enter down 5 ) d 5,000.00Income 6 8 ) i 68,000.00Monthly debt

KEY DEFINITIONS ...1EXAMPLES...6Monthly Mortgage (P&I) Payment...6Inte

POCKET REFERENCE GUIDE — 26Qualifying Loan Amount (Interest Only-Loan)Using the same values from the previousexample, find qualifying loan amount, pri

POCKET REFERENCE GUIDE — 27Income Required (Stated Income) andAllowable Monthly Debt• Sales price: $300,000• Down%: 20%• Property taxes: 1.5%• Propert

POCKET REFERENCE GUIDE — 28(Cont’d)STEPS KEYSTROKES DISPLAYDisplay qualifying ratios q 28.00 - 36.00Find income required q 79,626.76Find maximum allow

POCKET REFERENCE GUIDE — 29STEPS KEYSTROKES DISPLAY1. Enter Fixed-Rate Loan Values andFind Total Payment:Clear o o 0.00Enter loan 2 5 0 ) l250,000.00E

POCKET REFERENCE GUIDE — 30(Cont’d)STEPS KEYSTROKES DISPLAY3. Find Combo Loan Values:Find blended interest rate for1st/2nd TD * 6.18Find equivalent in

POCKET REFERENCE GUIDE — 31*To enter a different LTV without changing thestored LTV, you can enter it prior to pressing the*key. For example, enter 8

POCKET REFERENCE GUIDE — 3280:20 Interest-Only 2nd Combo Loan Find the monthly payments with an 80:20Interest-Only 2nd Combo Loan:COMBO (1st/2nd)Loan

POCKET REFERENCE GUIDE — 33Find 1st/2nd TD combined monthlypayment * 1,954.50Find 1st TD loanamount * 280,000.00Find 2nd TD loanamount * 70,000.00Find

POCKET REFERENCE GUIDE — 34Default SettingsPerforming a Reset will return your calcu-lator to the default settings below:• 12 Periods per Year • Prope

POCKET REFERENCE GUIDE — 35Decimal Place SettingTo set the number of decimal places dis-played:s 6 0.000000s 5 0.00000s 4 0.0000s 3 0.000s 2 0.00s 1 0

Qualifying Loan Amount(Interest-Only Loan) ...26Income Required and AllowableMonthly Debt...2780:

POCKET REFERENCE GUIDE — 36BatteriesReplacing the Batteries:Slide open and remove the battery door(located on upper backside of calculator).Remove the

Software copyrighted and licensed toCalculated Industries, by Real EstateMaster Technologies, LLC, 2006.Pocket Reference Guide copyrighted by Calculat

POCKET REFERENCE GUIDE — 1Note: This is a short “reference” guide. Pleasesee your large User’s Guide for detailed defini-tions and examples.: Colon se

POCKET REFERENCE GUIDE — 2s Sets number of displayeddecimal places and acti-vates 2nd functionss – Change sign s x Clear All (Note: performwith cautio

POCKET REFERENCE GUIDE — 3T Number of yearsˆ Annual interest rates l Future values ˆ APR (annual percentagerate), including mortgageinsurance, if ente

POCKET REFERENCE GUIDE — 4t Property tax (enter as per-cent or dollar amount)s t Estimated tax savings/aftertax paymentI Property/homeowner’sinsurance

POCKET REFERENCE GUIDE — 5* Combo loan function for an80:10:10 LTV loan*; calcu-lates 1st/2nd TD valuesand compares them toentered fixed-rate loanw/mo