Calculated Industries Qualifier Plus IIIFX
Contents
1. 605 87 Cont d Pocket REFERENCE GUIDE 33 Cont d STEPS KEYSTROKES DISPLAY Find equivalent payment for fixed rate loan with mortgage insurance 1 709 34 Display monthly savings over fixed rate loan with mortgage insurance 103 46 Display adjusted 2nd term if savings applied to 2nd TD 8 71 Find 1st TD loan amount 222 222 22 Find 2nd TD loan amount 27 777 78 Find 1st TD payment 1 332 33 Find 2nd TD payment 273 54 Redisplay LTV 80 00 10 00 Use Ei for 80 15 5 loans See Large User s Guide for entering other LTV Combo loans Pocket REFERENCE GUIDE 34 Cash Flow A real estate investor wishes to purchase a home for 225 000 and rent it out He d like a return of 9 6 and expects to sell it after 5 years for 275 000 He expects the annual cash flows below Find the IRR NPV amp NFV Annual Cash Flow Year 1 16 000 Year 2 16 600 Year 3 16 900 Year 4 17 200 Year 5 275 000 STEPS KEYSTROKES DISPLAY Clear CF Em 6 0 00 Set 1 payment peryea QDS 1 00 Enter initial investment as cash outlay 2 2 D ED C 0 225 000 00 Enter 1st CF CD 0 0 0 Ga C 1 16 000 00 Enter 2nd CF I 6 Ga C 2 16 600 00 Cont d Pocket REFERENCE GUIDE 35 Cont d STEPS KEYSTROKES DISPLAY Enter 3rd CF D 9 0 Ea C 3 16 900 00 Enter 4th CF CD 7 2 0 Gea C 4 17 200 00 Enter last CF 2 7 5 AWD C 5 275 000 00 Find IRR c3 9 83 Enter desired2. En 1 25 Enter insurance 6 3 GD 0 30 Enter MI o 4 5 GD 0 45 Enter monthly association dues 0 72 50 00 Enter term 3 0 em 30 00 Enter interest 6 2 5 C23 6 25 Display Qual 1 ratios D 28 00 36 00 Cont d Pocket REFERENCE GUIDE 28 Cont a STEPS KEYSTROKES DISPLAY Find Qual 1 qualifying loan GED run 140 595 95 Find Qual 1 P amp l payment D 865 67 Find Qual 1 PITI Payment Ga 1 100 00 Find total payment cD 1 150 00 DO NOT CLEAR CALCULATOR STEPS KEYSTROKES DISPLAY Display Qual 2 ratios 29 00 41 00 Find Qual 2 qualifying loan run 163 496 04 Find Qual 2 P amp I payment D 1 006 67 Find Qual 2 PITI payment D 1 279 17 Find total payment D 1 329 17 Pocket REFERENCE GUIDE 29 Income Required and Allowable Monthly Debt Sales price 300 000 Down e 20 Property taxes 1 5 Property insurance 0 25 Mortgage insurance 0 6 Term 30 years Interest 5 88 Find the income required to finance a 300 000 home and the maximum allow able debt Note Clear mortgage insurance rate to zero as the down payment is 20 STEPS KEYSTROKES DISPLAY Clear On C 0 00 Enter interest o 5 88 Enter term 3 0 GH 30 00 Enter tax D 9 5 En 1 50 Enter insurance 2 5 GD 0 25 Clear MI96 0 GM 9 0 00 Enter price 0 0 Gy Gz 300 000 00 Enter down 2 0 IZ 20 00 Find down Gi 60 000 00 Cont a Pocket
3. S 0 00 Enter income 7 5 CD 73 75 000 00 Enter debt 0 0 Cp 500 00 Enter down C Gi 5 000 00 Enter tax D 9 5 Gm 1 50 Enter ins 6 Em 0 25 Enter MI 6 GD 9 0 60 Enter association dues 0 Gy 50 00 Enter interest 7 5 C23 7 50 Enter term 3 0 30 00 Display ratios CB 28 00 36 00 Find qualifying loan amount ccn 189 119 31 Find price 194 119 31 DO NOT CLEAR CALCULATOR Find the monthly P amp I payment and total payment STEPS KEYSTROKES DISPLAY P amp l payment Gad 1 322 35 PITI payment GD 1 700 00 Total payment GD 1 750 00 Pocket REFERENCE GUIDE 24 Restricted vs Unrestricted Qualifying Buyer s income 68 000 Monthly debt 750 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 Find the Restricted qualifying loan amount actual ratios Unrestricted loan amount and maximum allowable debt Re enter 0 6 mortgage insurance rate 50 association dues and 5 000 down Note If you are not continuing from the previ ous problem you ll need to re enter interest term tax insurance STEPS KEYSTROKES DISPLAY Clear 0 00 Recall interest ET 23 7 50 Recall tem 9 30 00 Recall property tax c 1 50 Cont d Pocket REFERENCE GUIDE 25 Cont d STEPS KEYSTROKES DISPLAY Recall pr
4. rate of return and find NPV 9 GM C3 7 616 73 Find NFV c3 11 719 29 Re display desired rate of return c3 9 0096 Clear registers Gi 0 00 Analysis The investment is attractive as the IRR is greater than the desired rate of return Note See Large User s Guide for more examples Pocket REFERENCE GUIDE 36 APPENDIX Default Settings 12 Periods per Year End Mode Property Tax Insurance Clears Upon C2 Mortgage Insurance Clears upon Month Offset of January 1 Two Fixed Decimal Places Amortization Range Specified Year Ent Ent e Qual 1 Ratios 28926 3696 e Qual 2 Ratios 2926 4196 Qualifying Ratios Displayed 1st Decimal Place Setting To set the number of decimal places displayed cano 0 00000 E 4 0 0000 E 3 0 000 E 2 0 00 E 0 0 EJ 0 0 Gi K floating point Pocket REFERENCE GUIDE 37 Preference Settings To access the Preference Mode press E then amp then keep pressing amp to toggle through the preference settings list ed Press the key to advance through the sub settings Use the amp key to back up within the sub settings See Large User s Guide for details Batteries Replacing the Batteries Slide open and remove the battery door located on upper backside of calculator Remove the old batteries Insert two new LR44 button cell batteries making sure they re facing posi tive side up Close the battery door Reset Yo
5. s Guide Pocket REFERENCE GUIDE 14 Bi Weekly Loans Loan 212 500 Term 30 years Interest 7 85 Find the Bi Weekly term savings interest savings total cost and Bi Weekly payment STEPS KEYSTROKES DISPLAY Clear 0 00 Enter loan 2 CD 2 8 0 0 GA 212 500 00 Enter tem 3 0 30 00 Enter interest 8 5 a 7 85 Find payment QD 1 537 09 Find Bi Weekly term Shift 22 97 Find total interest savings 94 305 23 Find total interest paid 246 545 97 Find total principal 212 500 00 Find total principal plus interest 459 045 97 Bi Weekly P amp l payment D 768 54 Pocket REFERENCE GUIDE 15 Appreciation What will a 350 000 home be worth in 3 years figuring an inflation or appreciation rate of 6 STEPS KEYSTROKES DISPLAY Clear 0 00 Set to 1 payment per year One 1 00 Enter present value 3 8 0 aW 350 000 00 Enterterm 3 3 00 Enter appreciation rate Om 6 00 Find future value FV Eu 416 855 60 Reset payments peryear OaD 12 00 Pocket REFERENCE GUIDE 16 Retirement Savings If you invest 10 000 today and 250 in monthly deposits what will it be worth in 30 years at 7 interest STEPS KEYSTROKES DISPLAY Clear 0 00 Recall payments per year aos 12 00 Enter deposit T 0 By 10 000 00 Enter tem 3 0 30 00 Enter interest 7 00 Find FV an 81 164 97 Add to M M 81 164 97 Clear 0 00 Enter payment 2 5 0 Ga 250 00 Find FV am 304 992 75
6. 0 1 00 Find 1st adjusted payment run 1 1 724 90 Find 2nd adjusted payment 2 1 883 17 Cont a Pocket REFERENCE GUIDE 19 Cont d STEPS KEYSTROKES DISPLAY Find 3rd adjusted payment ARM 3 2 043 26 Find 4th adjusted payment ARM 4 2 204 68 M Find 5th adjusted payment ARM 5 2 204 68 M Find principal at start of 6th year c 220 856 34 Recall current interest rate Cc c3 11 25 Recall remaining term c 25 00 Clear Cap 0 Em CAP 0 00 Note that the payment for 4th and 5th adjust ments corresponding to the 5th and 6th years is the same because the lifetime cap was reached on the 4th adjustment An M for maximum will appear in the display once the Cap is reached Pocket REFERENCE GUIDE 20 Estimated Tax Savings Loan 150 000 Buyer s tax bracket 28 Term 30 years Interest 8 Property taxes 1 500 Property insurance 250 Note This is an estimate only What is this buyer s estimated income tax savings and after tax payment STEPS KEYSTROKES DISPLAY Clear 0 00 Enter term 3 0 30 00 Enter interest 8 C23 8 00 Enter tax 5 0 0 GM 7 1 500 00 Enter insurance 2 8 0 E 250 00 Enter loan CD 65 0 Gay 150 000 00 Find P amp l pmt GD run 1 100 65 PITI payment GD 1 246 48 Enter tax bracket 2 8 En ao 28 00 Find annual tax savings cD 3 767 32 Monthly tax savings e 313 94 Net payment GD 932 54 Pocket REF
7. 36 60 DO NOT CLEAR CALCULATOR Pocket REFERENCE GUIDE 12 Find the total payment if you estimate homeowner s association fees at 80 month Also find the interest only payment STEPS KEYSTROKES DISPLAY Enter expenses 8 0 80 00 Find total payment D Gn 2 516 60 Find interest only payment 2 1 608 07 Quarterly Payment Find the quarterly payment on a 10 year loan of 15 000 with an annual interest rate of 1296 STEPS KEYSTROKES DISPLAY Clear 0 00 Set to 4 payments peryer EID 4 00 Enter loan CD 5 a 15 000 00 Enter tem MO 10 00 Enter interest 1 2 23 12 00 Find quarterly P amp I payment D 648 94 Return to 12 payments peryear aD 12 00 Pocket REFERENCE GUIDE 13 Amortization Loan 300 000 Term 30 years Interest 7 5 Find total interest and principal for the life of the loan STEPS KEYSTROKES DISPLAY Clear 0 00 Enter loan 3 0 0 Ga 300 000 00 Enter interest 7 5 0 7 50 Enter tem 3 0 30 00 Find P amp l pmt GD 2 097 64 Find pmts 1 360 Find total int 455 151 67 Find total prin 300 000 00 Find total pmts 755 151 67 Find all values for the first year Enter Year 1 1 1 12 Find total int 22 406 22 Find total prin 2 765 50 Find total pmts 25 171 72 Find balance CZ 297 234 50 Rem term Amort 29 00 Tax deduct 6 273 74 Note Based on default 28 tax bracket and loan starting in January To change these val ues see Large User
8. Change minus sign to plus sign EMS 304 992 75 Add to M M 304 992 75 Find total and clear a amp 386 157 72 If you deposit funds at the beginning of the month you must set to BEG Mode see Large User s Guide Preference Settings Pocket REFERENCE GUIDE 17 APR and Total Finance Charges Including Mortgage Insurance Loan 250 000 Term 30 years Interest 7 Cost 1 5 points 550 e Mortgage insurance MI 1 200 year STEPS KEYSTROKES DISPLAY Clear 0 00 Enter loan 2 8 0 ty 250 000 00 Enter tem 3 30 00 Enter interest 7 23 7 00 Find P amp l pmt GD 1 663 26 Enter MI 000e o 1 200 00 Find Loan Costs Recallloan Ec 250 000 00 Find points D 5 BB 3 750 00 Add fees and find total 5 5 0 amp 9 4 300 00 Find APR E a 7 77 Find total chgs Ga 389 072 25 Amt financed B 245 700 00 Total cost c 634 772 25 P amp l payment B 1 663 26 Monthly M C2 100 00 Find PIMI pmt 23 1 763 26 Pocket REFERENCE GUIDE 18 ARM Payment Lifetime Cap Loan 230 000 Term 30 years Interest 7 2596 Lifetime cap 4 ARM Interest Adjustment 1 per year Find the adjusted ARM payments through year six STEPS KEYSTROKES DISPLAY Clear e cS 0 00 Enter loan 2 3 0 Ty 230 000 00 Enter term 3 0 30 00 Enter interest 7 2 5 23 7 25 Find initial monthly P amp I payment D run 1 569 01 Enter interest cap 4 EX CAP 4 00 Enter ARM parameters M 1 0
9. EPS KEYSTROKES DISPLAY Clear 0 00 Enter loan CD 5 a 15 000 00 Enter interest 1 0 GD 10 00 Enter payment 2 0 0 Gy 200 00 Find term in years 9 85 Number of months 118 19 Pocket REFERENCE GuiDE 10 Setting Tax and Insurance Enter an annual property tax rate of 1 5 a hazard insurance rate of 0 25 and a mortgage insurance rate of 0 50 STEPS KEYSTROKES DISPLAY Enter tax D 5 Gm 1 50 Enter insurance 6 9 2 5 Efi 0 25 Enter mortgage insurance 5 0 Em 9 0 50 Note Do not label as a percent or use the key it is automatically registered as a percent To Enter Tax Insurance in Dollar Figures Enter dollar values for tax insurance in the same man ner e g to enter 5 500 estimated annual tax enter 5 5 0 Gi 7 Pocket REFERENCE GuiDE 11 PITI Payment Total Payment and Interest Only Payment Term 30 years Interest 6 2596 Sales price 325 000 Down payment 5 Property taxes 1 3 Property insurance 0 25 Mortgage insurance 0 45 Find the Monthly PITI payment STEPS KEYSTROKES DISPLAY Clear 0 00 Enter term 3 0 30 00 Enter interest 6 2 5 23 6 25 Enter price 3 2 GI GD 325 000 00 Enter Down 5 ZZ 5 00 Enter tax OCG Ea 1 30 Enter insurance 2 5 GM 0 25 Enter MI 6 4 5 GD 0 45 Find loan 308 750 00 Find P amp I payment D run 1 901 03 Find PITI payment cD 2 4
10. ERENCE GUIDE 21 Rent vs Buy Term 30 years Tax 1 25 Interest 7 5 Insurance 0 35 Down 10 Tax bracket 30 If your client is currently renting a home for 1 250 month find the comparable home sales price and loan amount that he or she could afford STEPS KEYSTROKES DISPLAY Clear 0 00 Enter term 3 0 30 00 Enter interest 7 23 7 50 Enter down 1 0 ZZ 10 00 Enter tax D 9 2 5 GD 1 25 a Enter insurance 3 5 snitt 0 35 Tax bracket 3 0 Gi 30 00 Enter rent to find comparable home price 1 2 5 0 E B 221 894 90 Find comparable loan amount 199 705 41 Find PITI pmt 1 692 23 Find annual tax savings 5 306 75 Monthly tax savings 442 23 Reset tax E0 28 00 Pocket REFERENCE GUIDE 22 Setting Qualifying Ratios Enter new qualifying ratios of 30 for Income and 38 for Debt in QED STEPS KEYSTROKES DISPLAY Clear 0 00 Enter qualifying ratios 3 0 3 5 Gp 30 00 38 00 Return ratios to defaults 2 8 8 CD 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 Pocket REFERENCE GUIDE 23 Cont d Find the Qualifying Loan Amount Price and Total Payment STEPS KEYSTROKES DISPLAY Clear
11. QUALIFIER PLUS ETT ADVANCED REAL ESTATE FINANCE CALCULATOR with CASH FLOW and COMPLETE BUYER QUALIFYING Model 3430 Pocket Reference Guide CALCULATED 327 INDUSTRIES QUALIFIER PLus IIIFXx The QuauiriER PLus IlIrx lets you pre qual ify clients and compute financial problems with ease Quickly Solve Time Value of Money TVM Problems Find Loan Amount Term Interest Payment Future Value Restricted Unrestricted Qualifying Required Income Debt Qualifying Using Flexible Ratios Property Tax and Insurance Mortgage Insurance P amp I and PITI payment Sales Price and Down Payment Adjustable Rate Mortgages Amortization and Remaining Balance Bi Weekly Loans Date Math Problems New 80 10 10 80 15 5 Combo loans APR including Mortgage Insurance Cash Flow Investment Keys Income Tax Savings and Rent vs Buy Interest Only Payments LTV Month Offset Prepaid Interest TABLE OF CONTENTS KEY DEFINITIONS e 4 EXAMPLES us Date Exampl Monthly Mortgage P amp I Payment 10 Loan Amount 11 Loan Amount Based on Sales Price and Down Payment 12 Interest Rate 12 Term of a Loan ld Setting Tax and Insurance 14 PITI Payment Total Payment and Interest Only Payment 15 Quarterly Payment 16 Amortization id Bi Weekly Loans 18 Appreciation wld Re
12. REFERENCE GUIDE 30 Cont d STEPS KEYSTROKES DISPLAY Find loan 240 000 00 Display qualifying ratios D 28 00 36 00 Find income required D 79 626 76 Find maximum allowable monthly debt D 530 85 Find P amp I payment D 1 420 46 Find PITI payment D 1 857 96 Pocket REFERENCE GUIDE 31 80 10 10 Combo Loan vs Fixed Rate Loan with Mortgage Insurance Compare an 80 10 10 Combo Loan vs a Fixed Rate loan w mortgage insurance The loan parameters are FIXED COMBO w PMI 1st 2nd Loan 250 000 250 000 Interest 6 50 6 00 8 50 Term 30 30 year 15 year PMI 0 62 LTV 95 80 10 STEPS KEYSTROKES DISPLAY 1 Enter Fixed Rate Loan Values and Find Total Payment Clear Enter loan Enter interest Enter term Enter MI 0 00 2 5 0 am 250 000 00 5 E223 6 50 3 0 30 00 6 2 Ef 9 0 62 Cont a Pocket REFERENCE GUIDE 32 Cont d STEPS KEYSTROKES DISPLAY Clear Tax Gi 0 00 Clear Insurance 0 GD 0 00 Solve for payment GD 1 580 17 Solve for PITI including PMI co 1 709 34 2 Enter Combo Loan Values Enter 1st TD Interest and Term 8 3 0 EAB 6 00 30 00 Enter 2nd TD Interest and Term 8 5 8 D 5 GD 8 50 15 00 3 Find Combo Loan Values Find blended interest rate for 1st 2nd TD 6 18 Find equivalent interest rate for fixed rate loan with mortgage insurance 7 27 Find 1st 2nd TD combined monthly payment 1
13. ces and acti vates 2nd functions Change sign Clear All Note perform with caution as it will reset calculator to defaults Preference mode see Large User s Guide for details Payments per year Default 12 for monthly Periodic sets per Period rather than per Year Month offset Odd days interest Tax bracket 96 Estimated income tax sav ings after tax payment Rent vs Buy Loan amount P amp l PITI total payment and interest only payment Pocket REFERENCE GUIDE 2 aD ea E o EL cn uc GD am ARM E an aM g cn Number of years Annual interest rate or cash flow desired rate of return Future value APR annual percentage rate including mortgage insurance if entered Property price Down payment Bi Weekly loan Amortization function Remaining balance Adjustable rate mortgage ARM decreasing interest 96 adjustment ARM lifetime interest cap Qualify based on 28 36 Qualify based on 29 41 Annual income Pocket REFERENCE GUIDE 3 Eu 7 Shirt 8 Eu 9 Eu cr Ist Int Term E ap Long term monthly debt e g car payment Property tax enter as per cent or dollar amount Property homeowner s insurance enter as per cent or dollar amount Mortgage insurance enter as percent or dollar amount Monthly expenses such as homeowner s associa tion dues For entering or finding Loan to Value ratio and computing respective Down Payme
14. est 6 7 5 23 6 75 Find P amp I payment D 1 718 78 PockET REFERENCE GUIDE 7 Loan Amount Approximately how much can you borrow if the interest rate is 6 5 on a 30 year loan and you can afford 1 500 in month ly payments What if the interest rate is lowered to 6 STEPS KEYSTROKES DISPLAY Clear On C 0 00 Enter interest 6 C23 6 50 Enter tem 3 30 00 Enter payment 1 5 0 GJ 1 500 00 Find loan 237 316 23 Enter new interest rate 6 6 00 Find new loan amount 250 187 42 Pocket REFERENCE GUIDE 8 Loan Amount Based on Sales Price and Down Payment Find both down payment and loan amount if the sales price is 375 500 and you re planning to put 20 down STEPS KEYSTROKES DISPLAY Clear 0 00 Enter price 3 7 0 0 Gy 375 500 00 Enter down 2 0 CZ 20 00 Find down Gi 75 100 00 Find loan E 300 400 00 You do not have to label the value as a percent Interest Rate Find the interest rate on a mortgage if the loan amount is 98 500 term is 30 years and payment is 1 150 a month STEPS KEYSTROKES DISPLAY Clear 0 00 Enter loan 9 8 5 0 0 98 500 00 Enter tem 3 30 00 Enter payment 1 C 5 Gi 1 150 00 Find annual interest Uc 13 78 Find periodic interest c 1 15 Pocket REFERENCE GUIDE 9 Term of a Loan How long does it take to pay off a loan of 15 000 at 10 interest if you make pay ments of 200 each month ST
15. nt and or Loan Amount Used to enter 1st TD interest term for Combo Loans Used to enter 2nd TD interest term for Combo Loans Pocket REFERENCE GUIDE 4 EID am Cash Flow Em ep Combo loan function for an 80 10 10 LTV loan calcu lates 1st 2nd TD values and compares them to entered fixed rate loan w mortgage insurance You may enter any LTV prior to pressing this key e g LTV of 90 5 enter 9 am Combo loan function for an 80 15 5 loan same func tion as above key Allows entry of up to 20 cash flows Use the Gi to label as positive or negative Frequency labels a cash flow that is consecutively repeating Pocket REFERENCE GUIDE 5 ceno Multi function key that computes upon consecu tive presses IRR NPV amp NFV used for cash flow analysis The greater the IRR and NPV the more attractive the investment Clear cash flows Pocket REFERENCE GUIDE 6 EXAMPLES Date Example If a 45 day escrow begins June 15 2004 what is the closing date and day STEPS KEYSTROKES DISPLAY Clear 0 00 Enter month 6 8 6 Enter day eo 6 15 Enter year 0 6 15 04 Add 45 days amp 3 4 8 amp FRI 07 30 04 Monthly Mortgage P amp I Payment Find the monthly P amp I payment on a 30 year fixed rate loan of 265 000 at 6 7596 annual interest STEPS KEYSTROKES DISPLAY Clear 0 00 Enter loan 2 6 8 QI Exi 265 000 00 Enter tem 3 0 30 00 Enter inter
16. operty insurance ED 0 25 Re enter MI 6 Gia 9 0 60 Re enter homeowner s dues 5 0 50 00 Enter down CD CZ 5 000 00 Enter income 6 8 GH C3 68 000 00 Enter monthly debt 8 0 Ga 750 00 Display qualifying ratios Qua 1 28 00 36 00 Find Restricted qualifying loan amount cn 137 725 41 DO NOT CLEAR CALCULATOR Cont d Pocket REFERENCE GUIDE 26 Cont a STEPS KEYSTROKES DISPLAY Find actual ratios 22 76 36 00 Find Unrestricted loan amount GT 170 870 75 LA INC Find maximum allowable monthly debt ccn 453 33 Note The INC tells you this unrestricted Qualifying Loan Amount is based on the buyer s Income Ratio therefore the restricted Qualifying Loan Amount is based on the buyer s Debt Ratio This means that if they pay off their monthly debt to 453 month or lower they may qualify for a mortgage loan of approximately 170 000 or more and afford a 175 000 home if they put approximately 4 5K down Pocket REFERENCE GUIDE 27 Qualifying Comparison 2 Ratios at Once Buyer s income 55 000 Monthly debt 500 Property taxes 1 25 Property insurance 0 3 Mortgage insurance 0 45 Monthly association dues 50 Term 30 years Interest 6 25 Qualify this buyer based on both 28 36 and 29 41 ratios STEPS KEYSTROKES DISPLAY Clear 0 00 Enter income 5 5 GI 23 55 000 00 Enter debt 0 0 Gap 500 00 Enter tax D S 2 5
17. tirement Savings 20 APR and Total Finance Charges Including Mortgage Insurance 21 ARM Payment Lifetime Cap 22 Estimated Tax Savings 24 Rent vs Byy 25 Setting Qualifying Ratios 26 Qualifying Loan Amount 26 Restricted vs Unrestricted Qualifying citet 28 Qualifying Comparison 2 Ratios at O1 j 31 Income Required and Allowable Monthly Debt eee 33 80 10 10 Combo Loan vs Fixed Rate Loan with Mortgage Insurance 35 Cash Flow i 98 APPENDIX 40 Default Settings 40 Decimal Place Setting 40 Preference Settings A Batteries AA RESO P iii it NT KEY DEFINITIONS Note This is a short reference guide Please see your Large User s Guide for details Colon separator used for date ARM adjustment qualifying ratios and combo loans Backspace key for back ing up deleting wrong entry Recalls or re displays a value when followed by a chosen key e g Uc will display current interest value Memory Function Adds value on display to Memory Em Subtracts value on display from Memory 03 Recalls Memory Total C C Recalls and clears Memory Total Pocket REFERENCE GUIDE 1 am Shirt J Eu a gu go gu S gu en Eu an ga E o Eg c em a c Sets number of displayed decimal pla
18. u may at times want to reset your cal culator to its factory settings i e reset all registers and Preference Settings to their original default values To do this turn off the calculator hold down the amp key and then turn it back on Pocket REFERENCE GUIDE 38 3j _ CALCULATED 7 INDUSTRIES Putting answers at your fingertips since 1978 This equipment has been certified to comply with the limits for a Class B computing device pursuant to Subpart J of Part 15 of FCC rules Software copyrighted and licensed to Calculated Industries Inc by Real Estate Master Technologies LLC 2007 Pocket Reference Guide copyrighted by Calculated Industries Inc 2007 Qualifier Plus and Calculated Industries are registered trademarks of Calculated Industries Inc ALL RIGHTS RESERVED CALCULATED INDUSTRIES 4840 Hytech Drive Carson City NV 89706 U S A 1 800 854 8075 Fax 1 775 885 4949 E mail info Q calculated com www calculated com Designed in the USA Printed in China 8 07 HEN PRG3430E D
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