Calculated Industries 3423 - Manual (Page 32)

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Finding Loan-to-Value (LTV) Based on Down Payment and
Sales Price
Find the Loan-to-Value if a buyer is putting $15,000 down on a
$197,000 home. Then find the mortgage amount.
STEPS KEYSTROKES DISPLAY
Clear calculator o o 0.00
Enter sales Price 1 9 7 ) P 197,000.00
Enter Down Payment $ 1 5 ) d 15,000.00
Find Down Payment % d 7.61
Find LTV d 92.39
Find Mortgage Amount l 182,000.00
Setting Property Tax Percent Rate
Enter an annual property tax rate of 1.5%.
STEPS KEYSTROKES DISPLAY
Set Tax rate 1 • 5 t 1.50
Clear display o o 0.00
Recall Tax rate ® t 1.50
Setting Property Tax Dollar Amount
Enter annual property taxes estimated at $2,500, then clear.
STEPS KEYSTROKES DISPLAY
Set annual Taxes 2 5 0 0 t 2,500.00
Clear Tax 0 t 0.00
Total Payment (Including Heating Expense)
Find the Total (PITH) payment on a 25-year, 7.63% mortgage if the
home’s selling price is $178,000 and the down payment is 5%.
Monthly heating cost is estimated at $150.
STEPS KEYSTROKES DISPLAY
Clear calculator o o 0.00
Enter Term in years 2 5 T 25.00
Enter annual Interest 7 • 6 3 ˆ 7.63
Enter sales Price 1 7 8 ) P 178,000.00
Enter Down Payment 5 d 5.00
Add mo. heating Expense 1 5 0 s D 150.00
Find Mortgage Amount l 169,100.00
Find P&I Payment p “run” 1,250.90
Find Total (PITH) Payment p 1,400.90