Manual

U SER ’ S G UIDE — 13
(Cont’d)
calculate the P-A-P Savings and ROI for the first two
years. Calculating the P-A-P (or EB P-A-P) with an
entered number greater than five years will still cal-
culate the P-A-P Savings and ROI for years 1-5;
however, the P-A-P loan will be amortized based
upon the range entered (i.e., 7 ∏ will calculate
P-A-P Savings and Investment Savings w/ROI for
years 1-5, and the Amortized values will be calculat-
ed for years 1-7).
e Equity Builder Pick-A-Payment Adjustable Rate
Mortgage — Operates identically to the regular
P-A-P key, except it’s based on 26 payments per
year instead of 12.
s ∏ Payment Options — Displays the P-A-P Start pay-
ment (1st year only), the interest-only payment
(based on Note Rate), 30-year payment (based on
Note Rate), 15-year payment (based on Note Rate),
and P-A-P deferred interest payment.
s e Payment Options — Same values as above, but
for the Equity Builder Pick-A-Payment loan.
Combo Loan Keys
The Combo Loan keys show the savings of obtaining a 2nd Trust
Deed (TD) loan over a single, fixed-rate loan where mortgage insur-
ance (MI) is required.
This routine requires a fixed-rate loan to be entered using the stan-
dard l, p, ˆ and/or T keys so that a loan comparison can
be made.
s d Loan-to-Value Combo Loan (LTV 1st:2nd) —
Stores the Loan-to-Value (LTV) ratio for the 1st and
2nd TD loans using the : key. The stored values are
a percentage of the sales price (e.g., 8 0 : 1 0
identifies that 80% of the price is covered by the 1st
TD, 10% of the price is covered by the 2nd TD and
the remaining 10% is covered by the down pay-
ment). Both values need to be entered for a valid
entry. Values will be retained until changed or reset.
(Default: 80.00-10.00)