Calculated Industries 43285 - Manual (Page 9)

Pressing [Set] [Term] again will return and re-cal-
culate to the original term.
[Set] [ARM] ARM Rate Increase/Decrease — Changes ARM
rate from increasing to decreasing.
Qualifying Keys
[Qual 1] A multi-function key which, based on entered
variables, performs the following qualifying
functions:
1) Stores income and debt ratios for loan quali-
fying. Entered ratios are separated by the Colon
[:] key. For example, income and debt ratios of
28% and 36%, respectively, are entered and
permanently stored as follows: 28 [:] 36 [Qual 1].
Default income and debt ratios for this key are
28% and 36%, respectively. You may change
qualifying ratios, if desired.
2) Calculates the maximum loan amount for
which a buyer may qualify for based on the
stored income and debt qualifying ratios and
the entered:
• term
• interest
• annual income
• monthly debt
— and optional—
• annual tax and insurance
• monthly housing expenses
First press of [Qual 1] displays stored qualifying
ratios; 2nd press calculates the qualifying loan
amount; 3rd press calculates the “non-restrictive”
qualifying loan amount; 4th press calculates the
borrower’s actual income & debt ratios. Note that
the loan amount displayed is the lower, or
“restrictive” of the two possible loan amounts
8 – Qualifier Plus ® IIx DT