Calculated Industries 3430 Pocket Reference Guide - Manual (Page 27)

P
OCKET
R
EFERENCE
G
UIDE
— 23
Setting Qualifying Ratios
Enter new qualifying ratios of 30% for
Income and 38% for Debt in
q:
STEPS KEYSTROKES DISPLAY
Clear o o 0.00
Enter qualifying
ratios 3 0 : 3 8 q
30.00-38.00
Return ratios
to defaults 2 8 : 3 6 q
28.00-36.00
Qualifying Loan Amount
• Buyer’s income: $75,000
• Monthly debt: $500
• Down$: $5,000
• Property taxes: 1.5%
• Property insurance: 0.25%
• Mortgage insurance: 0.6%
• Monthly association dues: $50
• Term: 30 years
• Interest: 7.5%
• Qualifying ratios: 28%: 36%
(Cont’d)