Calculated Industries 3416 User Guide - Manual (Page 17)

12 — M
ORTGAGE
Q
UALIFIER
P
LUS
®
(Cont’d)
* * and s * (Int-Only 2nd) Key Output:
For a comparison of a fixed-rate combo loan versus
a fixed-rate loan with required mortgage insurance,
each key press (once all other loan values are entered,
including 1st:2nd Interest:Term) will calculate:
Press Calculation
1
Combo Loan Combined (Blended)
Interest Rate
2 Equivalent Interest Rate of Fixed Rate
Mortgage with Mortgage Insurance
3 Combo Loan Combined (1st/2nd TD)
Payment
4 Equivalent Payment of Fixed Rate Mortgage
with Mortgage Insurance
5 Monthly Savings over Fixed-Rate Loan with
Mortgage Insurance
6 Adjusted 2nd Term (if Savings Applied to
2nd TD)
7 1st Trust Deed Loan Amount
8 2nd Trust Deed Loan Amount
9 1st Trust Deed Payment
10 2nd Trust Deed Payment
11 Displays LTV
! 1st TD Interest:Term — Stores the annual interest
and term for the 1st fixed-rate TD. These values are
used when computing the 1st:2nd fixed Combo
Loan. Entry is made using the
: key (Interest :
Term). Both interest and term values are required for
a valid entry. Values will be retained until changed or
reset.
s ! 2nd TD Interest:Term — Stores the annual interest
and term for the 2nd fixed-rate TD. Entry is made
using the
: key (Interest : Term). Both interest
and term values are required for a valid entry. Values
will be retained until changed or reset.