Owner manual

2 — Q

UALIFIER

LUS

III

GETTING STARTED..........................................................................5

KEY DEFINITIONS .........................................................................5

Basic Operation Keys ..................................................................5

Mortgage Loan (TVM) Keys.........................................................6

Tax, Insurance and Expense Keys ............................................10

Tax Savings Keys.......................................................................11

Rent vs. Buy Keys .....................................................................12

Qualifying Keys..........................................................................12

1st & 2nd Trust Deeds (Combo Loan) Keys..............................15

Cash Flow Keys.........................................................................16

BASIC ARITHMETIC EXAMPLES ...............................................18

Arithmetic ...................................................................................18

Percent Calculations..................................................................18

Figuring Straight Percent Commission ......................................18

Reduction in Listing Price (Discount %) ....................................19

Simple, 1-Year Home Appreciation (Add-on %).........................19

Date Examples...........................................................................20

CALCULATOR SETTINGS...........................................................21

Decimal Place Selection ............................................................21

Preference Settings ...................................................................22

MEMORY ......................................................................................24

Accumulative Memory................................................................24

Memory Storage Keys (M0-M5).................................................25

EXAMPLES......................................................................................27

MORTGAGE LOANS/TIME-VALUE-OF-MONEY (TVM) .............27

Finding the Monthly Mortgage (P&I) Payment...........................28

Finding the Loan Amount...........................................................28

Finding the Interest Rate ...........................................................28

Finding the Term of a Loan........................................................29

Paying Off a Mortgage Early (Making Larger Payments)..........29

Simple Interest vs. Compound Interest......................................30

Sales Price/Down Payment .......................................................30

Finding Loan Amount Based on Sales Price and Down

Payment..................................................................................30

Taxes and Insurance..................................................................31

Setting Tax and Insurance Percent Rates .................................32

Recalling Tax and Insurance Percent Rates..............................32

Setting Tax and Insurance Dollars.............................................32

Calculating Tax and Insurance Percent or Dollars.....................33

PITI Payment (Tax and Insurance Entered as Percent) ............34

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