Owner manual

STEPS KEYSTROKES DISPLAY
Clear o o 0.00
Set Ratios 3 0 : 3 8 q
30.00-38.00
Qualifying Mortgage Amount
• Buyer’s Income: $45,000
• Monthly Debt: $250
• Down Payment: 25%
• Property Tax: 1.5%
• Monthly heating exp: $100
• Term: 25 years
• Interest: 7.25%
• GDS/TDS Ratios: 32% – 40%
Find qualifying mortgage amount, price
and total payment:
STEPS KEYSTROKES DISPLAY
Clear o o 0.00
Enter Income 4 5 ) i 45,000.00
Enter Debt 2 5 0 D 250.00
Enter %Down 2 5 d 25.00
Set Tax% 1 • 5 t 1.50
Enter heating
expense 1 0 0 s D 100.00
Enter Term 2 5 T 25.00
Enter Interest 7 • 2 5 ˆ 7.25
Enter Ratios 3 2 : 4 0 q
32.00 – 40.00
Find maximum qualifying
Mortgage q 124,633.84
Find Price P 166,178.45
P&I Payment p 892.28
Total Payment p 1,200.00
POCKET REFERENCE GUIDE — 21