Calculated Industries 3416 User Guide User Manual
Page 70
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STEPS
KEYSTROKES
DISPLAY
3. Find 80:10:10 Combo Loan with an Interest-Only 2nd TD and
Comparison Values (vs. Fixed-Rate Loan with Mortgage Insurance):
Find 1st:2nd blended
interest rate
s *
“run” 7.14
Find equivalent interest rate of single,
fixed-rate loan with MI
*
“run” 7.61
Find total combined (1st/2nd)
payment
*
674.71
Find equivalent payment of single,
fixed-rate loan with MI
*
706.97
Find monthly savings over
fixed-rate loan with MI
*
32.26
Find adjusted 2nd term (if savings
applied to 2nd TD)
*
“run” 14.23
Find 1st TD loan amount
*
88,888.89
Find 2nd TD loan amount
*
11,111.11
Find 1st TD monthly
payment
*
591.38
Find 2nd TD monthly
payment
*
83.33
Re-display LTV
*
80.00-10.00
Note: If you have an Interest-Only 1st TD (and a fixed-rate P&I 2nd TD) you may
enter your values as shown above with the Interest-Only TD entered as the 2nd TD
and the P&I TD as the 1st TD in order to calculate the combo loan.