Storing a new ltv, Combo loan – Calculated Industries 3442 User Manual
Page 79
74 — M
ORTGAGE
Q
UALIFIER
P
LUS
®
P
X2
(Cont’d)
STEPS
KEYSTROKES
DISPLAY
Find equivalent fixed-rate loan
payment
5
636.27
Find monthly savings over single
fixed-rate loan w/MI
5
23.57
Find adjusted 2nd term (if savings
applied to 2nd loan)
5
14.23
Find 1st TD loan amount
5
80,000.00
Find 2nd TD loan amount
5
10,000.00
Find 1st TD monthly pmt
5
532.24
Find 2nd TD mo. payment
5
80.46
Display LTV
5
80.00-10.00*
*A different LTV can be entered prior to calculating a combo loan (e.g.,
8 0 : 1 5
s 5
) without replacing the stored LTV. This allows for a comparison of different
Loan-to-Value ratios.
Note: To calculate Interest-Only 2nd Trust Deed Combo Loans on model 3442, press
the
4
key instead of the
5
key in Step 3 of the above example.
For Desktop Model (#43442) Users:
**Press the
B
key for Desktop Model.
Press
s
before pressing
B
to calculate Interest-Only 2nd Trust Deed Combo
Loans.
Combo Loan —
Storing a New LTV
You’d like to show your client the savings of a fixed-rate Combo
Loan over that of a standard, fixed-rate loan with MI. The LTV for the
1st/2nd TD is 90/10. See the following parameters:
FIXED-RATE
FIXED-RATE
COMBO LOAN
LOAN w/MI
(1st TD – 2nd TD)
Price
100,000
100,000
Interest
7%
7% –
9%
Term
30
30 year – 30 year
MI
0.5%
--
LTV
90%
80% –
10%
(Cont’d)