Calculated Industries 3416 User Guide - Manual (Page 57)

52 — M
ORTGAGE
Q
UALIFIER
P
LUS
®
(Cont’d)
5. When calculating Annual Income Required (based on entered
loan amount or sales price, term, interest and stored qualifying
ratios), the first press of
q or Q will display your stored
ratios, the second press in succession will display the Annual
Income Required, and the third press in succession will show
the Allowable Monthly Debt.
6. When calculating buyer's Actual Ratios based on entered bor-
rower data (i.e., income and debt) and property data (i.e., loan
amount, sales price, term, interest), the first press of
q or
Q will display the stored qualifying ratios, and the second
press will calculate the buyer's actual ratios.
7. You can use the e Expense , t , I , and s I Mtg Ins
keys as optional variables affecting buyer qualifying (and PITI
payments). Tax and Insurance rates are calculated from the
Sales Price. Mortgage Insurance is calculated from the Loan
Amount.