Owner manual

U SER ’ S G UIDE — 9
A Adjustable Rate Mortgage — Calculates the pay-
ment and re-amortizes a fully or partially amortized
Adjustable Rate Mortgage based on the inputs of
both an Interest Adjustment and a Term Adjustment,
which are entered using the Colon : key (Interest
Adjustment : Term Adjustment). For example, an
ARM which increases 1% every year is entered 1
: 1 A; an ARM which decreases 1% per year is
entered 1 : 1 s A. (ARM rates are stored
permanently.)
s % Lifetime Interest Cap (Cap%) — Sets the lifetime
interest cap for ARMs by entering the maximum
interest increase. This is a permanent setting. To
clear, set the cap back to zero (0 s %).
s T Bi-Weekly (Bi-Wkly) — Converts a regular monthly
loan to a Bi-Weekly loan, where the buyer may real-
ize significant interest savings. After loan variables
are entered, pressing s T displays the reduc-
tion in term. The second press of T shows the
total interest savings; third press displays the total
interest paid; fourth press displays the total principal;
and fifth press displays the total principal and inter-
est paid. Pressing p will calculate the Bi-Weekly
payment. Pressing s T again will return and
re-calculate to the original term, or pressing o
twice will exit Bi-Weekly Mode.
s + Tax Bracket (Tax Brkt%) — Enters a buyer’s tax
bracket for figuring Rent vs. Buy calculations, for
calculating Tax Savings, or for calculating an esti-
mated mortgage interest tax deduction in the
Amortization calculation. Press ® + to display
stored percentage. (Default = 28%)