Calculated Industries 3423 - Manual (Page 4)

Total Payment (Including Heating Expense and Property Tax
Entered as Percentage)..........................................................28
Total Payment (Including Heating Expense and Property Tax
Entered as Dollar Amount) .....................................................28
Finding Mortgage Amount (Including Canadian Mortgage
Insurance) ...............................................................................29
Finding Monthly Mortgage (P&I) Payment (Including Canadian
Mortgage Insurance)...............................................................30
Amortization and Remaining Balance........................................30
Notes on Amortization................................................................30
Total Principal and Interest for a 25-Year Mortgage ..................32
Total Principal and Interest (Including Canadian Mortgage
Insurance) ...............................................................................32
Amortization List for Individual Year(s) — Using “Next”
Feature ....................................................................................33
Amortization List for Individual Year(s) — Using Month
Offset ......................................................................................34
Amortization List for Individual Payment(s) ...............................35
Amortization List for a Range of Payments or Years.................36
Balloon Payment/Remaining Balance Needed to Pay Off a
Mortgage.................................................................................36
Future Value...............................................................................37
Appreciation/Future Value..........................................................37
Basic Savings Account Problem (Future Value of an Initial
Deposit)...................................................................................37
Trust Deeds and Discounted Notes ...........................................38
Purchase Price of a Note —
Fully Amortized ............................38
Finding the Yield on a Discounted Note ....................................39
BUYER PRE-QUALIFYING...........................................................40
IMPORTANT NOTE: U.S. vs. Canadian Payment and
Qualifying Calculations ...........................................................41
QUALIFYING EXAMPLES ............................................................42
Recalling GDS/TDS Qualifying Ratios .......................................42
Storing New GDS/TDS Qualifying Ratios ..................................42
Finding Qualifying Mortgage Amount and Sales Price
(Simple Example Excluding Property Tax) .............................43
Qualifying Mortgage Amount and Sales Price
(Including Down Payment, Property Tax and Monthly
Heating/Condo Fees)..............................................................44
Qualifying Mortgage Amount and Sales Price (Including
Canadian Mortgage Insurance) ..............................................45
“Restricted” Qualifying ...............................................................46
“Unrestricted” Qualifying ............................................................47
Qualifying Comparison (Comparing Two Different Mortgages or
Two Qualifying Ratios at Once) ..............................................48
Finding Income Required and Allowable Monthly Debt .............49
Solving for Actual Qualifying Ratios...........................................50