Calculated Industries Real Estate Master IIIx
Contents
1. 1 Enter Fixed Rate Loan Values and Find Total Payment Clear Enter loan 0 00 2 5 0 aM 250 000 00 Cont d REFERENCE GUIDE 34 Cont d STEPS KEYSTROKES DISPLAY Enter interest 6 5 3 6 50 Enter term 3 0 30 00 Enter MI 6 2 Ei C3 0 62 Clear Tax 0 00 Clear Insurance 0 3 0 00 Solve for payment G 1 580 17 Solve for PITI including PMI cD 1 709 34 2 Enter Combo Loan Values Enter 1st TD Interest and Tem 6 8 3 0 EAB 6 00 30 00 Enter 2nd TD Interest and Tem 8 5 8 D 5 Een 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 Cont d Pocket REFERENCE GUIDE 35 Cont d STEPS KEYSTROKES DISPLAY Find 1st 2nd TD combined monthly payment 1 605 87 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 the key to enter another LTV e g to enter 90 5 enter 9 0 B 5 and continue as above REFERENCE GUIDE 36 80 15 5 Combo Loan vs Fixed Rate Loan with Mort2. for Year 3 4 etc With Next feature sequence automatically repeats for next year Return Month Offset to 1 QD au 1 00 Return tax bracket to to 28 2 8 EI 28 00 Note Remember to reset Month Offset to 1 and tax bracket to 28 the calculator s default settings for performing other examples within this guide Check these settings by pressing aN anc C9 Q REFERENCE GUIDE 27 Balloon Payment Remaining Balance Loan 300 000 Term 30 years Interest 7 5 Find remaining balance after 10 years STEPS KEYSTROKES DISPLAY Clear 0 00 Enter loan 3 0 0 am 300 000 00 Enter interest 7 5 0 7 50 Enter tem 3 0 30 00 Find payment GD 2 097 64 Find balloon payment or remaining balance OO em 260 384 96 REFERENCE GUIDE 28 APR and Total Finance Charges Including Mortgage Insurance Loan 250 000 Term 30 years Interest 796 Cost 1 5 points 550 Mortgage insurance MI 1 200 year STEPS KEYSTROKES DISPLAY Clear 0 00 Enter loan 2 8 0 aW 250 000 00 Enter tem 3 0 30 00 Enter interest 7 7 00 Find payment 1 663 26 Enter MI 2 0 0 shitt 1 200 00 Find Loan Costs Recall loan 250 000 00 Find points CD 9 5 8 amp 3 750 00 Add fees and find total 3 5 5 0 C 4 300 00 Find APR a c 7 77 Find total charges Uc 389 072 25 Amt financed 245 700 00 Total cost U 634 772 25
3. Holds only MI at Off Holds MI or 5th press Amortization Display Range ENT ENT amortizes for entered year 1 ENT amortizes from beginning to entered year 6th press Qualifying Ratios Display at first press of CZD or GED keys Display at end of qualify ing sequence e g 5 amortizes for payment numbers 49 60 only 5th year e g 5 QED amortizes for payment numbers 1 60 years 1 5 HH REFERENCE GUIDE 10 EXAMPLES Memory Add Subtract Multiply Add 1 500 and 2 650 to the cumulative Memory M Compute subtotal then subtract 2 000 and find total STEPS KEYSTROKES DISPLAY Clear 0 00 Add 1st CD 5 0 0 23 M 1 500 00 Add 2nd DOSO M 2 650 00 Find total c M 4 150 00 Subtract 2 Gn e M 2 000 00 Find total and clear Memory DAC 2 150 00 Store 55 and multiply by 40 Then recall Memory Total and multiply it by 60 STEPS KEYSTROKES DISPLAY Clear 0 00 Store 55 5 5 M 55 00 Multiply 4 0 amp 9 M 2 200 00 Recall 55 c M 55 00 Multiply 6 0 M 3 300 00 Clear Memory 55 00 Pocket REFERENCE GUIDE 11 Memory Storage Registers Store 10 20 30 into Memory Storage keys 2 and recall each value Then clear all stored numbers STEPS KEYSTROKES DISPLAY Clear 0 00 Store ist amp D 0 E0 a 0 M 0 10 00 Store 2nd 8 2 0 E0 A 7 M 1 20 00 Store 3rd amp 0 E0 a a M 2 30 00 Recall ist 99 0 M 0
4. 1 250 month find the comparable home price loan and estimated income tax sav ings at 3096 tax bracket STEPS KEYSTROKES DISPLAY Clear 0 00 Enter tem 30 00 Enter interest 7 5 7 50 Enter down ZZ 10 00 Enter tax D 9 22 5 1 25 Enter insurance OOS 0 35 Tax bracket 3 GD 30 00 Enter rent to find comparable home price CD 2 5 0 GD GZ 221 894 90 Find comparable loan amount 199 705 41 Find PITI payment 1 692 23 Find annual tax savings 5 306 75 Monthly tax savings 442 23 Reset tax bracket 2 8 EI 28 00 REFERENCE GUIDE 21 ARM Payment Increasing and Decreasing Payments Term 30 ye Loan 225 000 ars Start interest 4 25 1st ARM interest adjustment increases 1 after 6 months 2nd ARM adjustment decreases 1 5 at end of 1st year 3rd ARM adjustment increases 1 25 at end of 2nd year and contin ues to increase each year thereafter ARM Cap 4 Find ARM payments through year six STEPS KEYSTROKES DISPLAY Clear 0 00 Enter loan 2 2 5 000 225 000 00 Enter term 3 0 30 00 Enter interest 4 5 2 5 4 25 Find initial mon payment Enter interest cap Enter 1st ARM parameters cD run 1 106 86 4 GD g CAP 4 00 CD 5 eu 1 00 0 50 Cont d REFERENCE GUIDE 22 Cont d STEPS KEYSTROKES DISPLAY Find adjusted higher payment for next 6 mont
5. 10 00 Repeat for 1 and 2 Clear All em All Cleared 0 00 Note There are additional Storage Registers GSD 3 4 and 6 You cannot store more than one value in the Storage Registers Finding Commission If a property sells for 535 000 and your commission rate is 2 what is your com mission in dollars STEPS KEYSTROKES DISPLAY Clear 0 00 Enter loan 5 3 5 GJ E3 2 8 D 10 700 00 REFERENCE GUIDE 12 Reduction of Listing Price A seller is anxious to sell his home and wishes to reduce the listing price by 5 What is the new price if it is now listed at 346 000 STEPS KEYSTROKES DISPLAY Clear 0 00 Enter price 3 4 6 GM 346 000 Subtract 5 EIS 17 300 00 Find new listing price e 328 700 00 Date of Escrow Closing 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 6 Enter day 1658 6 15 Enter year 54 6 15 04 Add 45 days 4 6 FRI 07 30 04 Pocket REFERENCE GUIDE 13 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 aq 0 00 Enter loan 2 6 265 000 00 Enter tem 30 00 Enter interest 7 5 6 75 Find payment 223 1 718 78 Term of a Loan How long does it take to pay off a loan of 15 000 at 10 interest if you mak
6. P amp l payment GD 1 663 26 Monthly MI 100 00 PIMI payment 1 763 26 REFERENCE GUIDE 29 Prepaid Odd Days Interest and APR Including Mortgage Insurance Loan 350 000 Term 30 years Interest 6 Cost 1 5 points 750 Mortgage insurance MI 2 200 year Escrow Closes 7 21 03 1st Payment Due 8 1 03 STEPS KEYSTROKES DISPLAY Clear 0 00 Enter loan 3 5 0 000 350 000 00 Enter term 3 0 30 00 Enter interest 6 3 6 00 Find P amp I payment 2 098 43 Enter MI 2 2 0 0 ECH 2 200 00 Find days between escrow closing and date of 1st payment 88006 8035 078 2080358 11 00 Find prepaid interest ODI due at closing Em 641 67 Store prepaid interest in Memory M 641 67 This is based on a 360 day year as most banks use this method for computing prepaid interest Cont d REFERENCE GUIDE 30 Cont d Find Loan Costs STEPS KEYSTROKES DISPLAY Recallloan 350 000 00 Find points OC 5 5 250 00 Add fees and find total 8 0 6 000 00 Add prepaid interest stored in memory 6 641 67 Find APR c 6 99 Find total charges Uc 478 075 33 Amount financed 343 358 33 Total cost U 821 433 66 P amp l payment GD 2 098 43 Monthly MI 183 33 PIMI payment GB 2 281 76 Clear All Shift All Cleared 0 00 APR includes points fees prepaid interest and like the previous example it also includes the cost of mortgage insur
7. interest only payment 1 608 07 Note Perform the same steps when entering Tax Insurance e g 1 625 tax enter 1 6 2 73 REFERENCE GUIDE 18 Quarterly Payment Find the quarterly payment on a 10 year loan of 15 000 with an annual interest rate of 12 STEPS KEYSTROKES DISPLAY Clear 0 00 Set to 4 payments peryea EMDS 4 00 Enter loan CD 5 000 15 000 00 Enter tem 10 00 Enter interest 1 2 23 12 00 Find quarterly payment 648 94 Return to 12 payments peryea aD 12 00 Pocket REFERENCE GUIDE 19 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 only an estimate What is this buyer s estimated income tax savings and after tax payment STEPS KEYSTROKES DISPLAY Clear 0 00 Enter tem 3 30 00 Enter interest 8 3 8 00 Enter tax CD 5 0 0 1 500 00 Enter insurance 2 8 0 3 250 00 Enter loan CD 65 0 13 150 000 00 Find P amp I payment run 1 100 65 PITI payment GD 1 246 48 Enter tax bracket 2 8 ao 28 00 Find annual tax savings cD 3 767 32 Monthly tax savings cD 313 94 Net payment G2 932 54 REFERENCE GUIDE 20 Rent vs Buy Term 30 years Property Tax 1 25 Interest 7 5 Property Ins 0 35 Down 10 Tax bracket 30 If your client is currently renting at
8. I PITI and Interest Only Pavments Quarterly Payment Estimated Tax Savings Rent vs Buy E ARM Payment ncreasing and Decreasing Payments 22 Amortization Using Next Feature 24 REFERENCE GUIDE 2 Amortization for Individual Year s Month Offset Tax Bracket Change 26 Balloon Payment Remaining Balance tha 28 APR and Total Finance Charges Including Mortgage Insurance 29 Prepaid Odd Days Interest and APR Including Mortgage Insurance 30 Appreciation Future Value E Bi Weekly Loans 80 10 10 Combo Loan vs Fixed Rate Loan with Mortgage Insurance 34 80 15 5 Combo Loan vs Fixed Rate Loan with Mortgage Insurance 37 APPENDIX eee 40 Default Settings Decimal Place Setting Batteries 41 Reset 41 Legal 5 41 REFERENCE GUIDE 3 KEY DEFINITIONS am gez Colon separator used for dates ARMs Amortization ranges 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 ce will display current interest value Memory Function Adds value on dis play to Memory Em Subtracts value on display from Memory Si Recalls Memory Total Gd Reca
9. Pocket Reference Guide Model 3405 Reat Estare Master We i CALCULATED 327 INDUSTRIES REAL Estate Master lx The REAL MASTER calculator lets you perform mortgage loan and financing problems with ease Quickly Solve Time Value of Money TVM Problems Find Loan Amount Term Interest Payment Future Value e Property Tax Homeowner s Insurance Mortgage Insurance e PITI amp Interest Only Payments e Sales Price and Down Payment e Rent vs Buy e Estimated Income Tax Savings Deduction e Adjustable Rate Mortgages ARMs Amortization and Remaining Balance Bi Weekly Loans e Date Math Problems New including MI New 80 10 10 80 15 5 Combo Loans REFERENCE GUIDE 1 TABLE OF CONTENTS KEY 5 4 Preference Settings How to Access 9 5 11 Memory Add Subtract Multiply 11 Memory Storage Registers 12 Finding Commission 12 Reduction of Listing Price 13 Date of Escrow Closing 13 Monthly Mortgage P amp l Payment 14 8 8 14 Interest Rate Loan Amount Loan Amount Based on Sales Price and Down Payment 16 Loan to Value 16 Setting Tax and Insurance 17 P amp
10. ance an optional entry REFERENCE GUIDE 31 Appreciation Future Value 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 ODS 1 00 Enter PV 3 5 0 350 000 00 Enter term 3 3 00 Enter approxim ate rate 6 23 6 00 Find FV 416 855 60 Reset payment per year 5 CD 2 eS 12 00 REFERENCE GUIDE 32 Bi Weekly Loans Loan 212 500 Term 30 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 0 2 8 0 0 cH 212 500 00 Enter tem 3 0 30 00 Enter interest 7 8 7 85 Find P amp I payment D 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 payment 768 54 Clear 0 00 REFERENCE GUIDE 33 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 5096 6 00 8 50 Term 30 30 year 15 year PMI 0 62 LTV 95 80 10 STEPS KEYSTROKES DISPLAY
11. e pay ments of 200 each month STEPS KEYSTROKES DISPLAY Clear 0 00 Enter loan CD 5 113 15 000 00 Enter interest 1 0 23 10 00 Enter payment 2 0 E 200 00 Find term years 9 85 Number of months 118 19 REFERENCE GUIDE 14 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 30 00 Enter payment 1 OU 8 GQ 1 150 00 Find annual interest c 13 78 Find periodic interest c 1 15 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 0 00 Enter interest 6 3 6 50 Enter tem 3 30 00 Enter payment 1 5 0 0 E 1 500 00 Find loan 237 316 23 Enter new interest rate og 6 00 Find new loan amount 250 187 42 Pocket REFERENCE GUIDE 15 Loan Amount Based on Sales Price and Down Payment Find both down payment dollar amount 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 Gey 375 500 00 Enter down 2 0 CD 20 00 Find down Gi 75 100 00 Find loan 300 400 00 do not have to label the value as a percent Loan
12. gage Insurance Compare an 80 15 5 Combo Loan vs a Fixed Rate loan w mortgage insurance The loan parameters are FIXED COMBO w PMI 1st 2nd Loan 350 000 350 000 Interest 6 00 5 25 7 0 Term 30 30 year 15 year PMI 0 62 LTV 95 80 15 STEPS KEYSTROKES DISPLAY 1 Enter Fixed Rate Loan Values and Find Total Payment Clear 0 00 Enter loan 0 AD 350 000 00 Enter interest 6 B 6 00 Enter tem 3 0 30 00 Enter MI 6 2 ECH 0 62 Clear 0 0 00 Cont d REFERENCE GUIDE 37 Cont d STEPS KEYSTROKES DISPLAY Clear Insurance 0 00 Solve for payment G 2 098 43 Solve for total payment including PMI E 2 279 26 Skip to G amp D if continuing from the last example as rates are already cleared 2 Enter Combo Loan Values Enter 1st TD Interest and Term 5 5 2 5 EM 3 0 5 25 30 00 Enter 2nd TD Interest and Tem 7 D 5 E0 7 00 15 00 3 Find Combo Loan Values Find blended interest rate for ist 2nd TD D n 5 43 Find equivalent interest rate for fixed rate loan with mortgage insurance 6 79 Find 1st 2nd TD combined monthly payment 2 124 27 Cont d REFERENCE GUIDE 38 Cont d STEPS KEYSTROKES DISPLAY Find equivalent payment for fixed rate loan with mortgage insurance 2 279 26 Display monthly savings over fixed rate loan with mortgage insurance 154 99 Display adjusted 2nd term if savings applied t
13. hs run 1 1 240 73 Enter 2nd ARM parameters O amp D E0 1 50 1 00 Find Year 2 adjusted lower payment 1 1 047 42 Enter 3rd ARM parameters T 00680 1 25 1 00 Find Year 3 adjusted increased payment 1 1 202 78 Find Year 4 adjusted increased payment 2 1 364 24 Find Year 5 adjusted increased payment 3 1 530 54 Find Year 6 adjusted increased payment 4 1 631 68 M Find principal at start of year 205 673 16 Recall current interest rate Rel Uc 8 25 Recall remaining term co 24 50 Clear Cap 0 ESO CAP 0 00 The M means the lifetime cap is reached and the payment will no longer increase REFERENCE GUIDE 23 Amortization Using Next Feature Loan 300 000 Term 30 years Interest 7 5 Start Month January Tax Bracket 2806 Default STEPS KEYSTROKES DISPLAY Clear 0 00 Enter loan 3 0 0 am 300 000 00 Enter interest 7 5 E23 7 50 Enter tem 3 30 00 Find payment GD 2 097 64 Find payments 1 360 Find total interest 455 151 67 Find total principal 300 000 00 Find total payments 755 151 67 Find all values for the first year Enter Year1 1 12 Find total interest 22 406 22 Find total principal 2 765 50 Cont d REFERENCE GUIDE 24 Cont d STEPS KEYSTROKES DISPLAY Find total payments 25 171 72 Find balance 297 234 50 Remaining term 29 00 Tax deduction 6 273 74 estimated mortgage intere
14. ird press finds monthly amounts For entering or finding Loan to Value ratio and computing respective Down Payment and or Loan Amount Used to enter 1st TD interest term for Combo Loans Used to enter 2nd TD interest term for Combo Loans REFERENCE GUIDE 7 EX am 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 0 AD Combo loan function for an 80 15 5 loan same func tion as above key Pocket REFERENCE GUIDE 8 Preference Settings How to Access Press Gi then then keep pressing to toggle through the main settings Press the key to advance within sub setting Use the amp key to back up Press any key to exit mode Press Gi and then 1st press of B Decimal Places Off 0 00 returns to 2 decimal places Off Permanently holds decimal place setting 2nd press amp Payments Per Year Returns to 12 Off Holds payments year 3rd press amp Tax Ins Cleared or Stored Clears or 96 values Off Permanently holds only T amp I 96 Permanently holds T amp I OR Clears T amp l or 8 Cont d Pocket REFERENCE GUIDE 9 Cont d 4th press Mortgage Insurance Cleared or Stored Clears MI or Clears MI or Off
15. k on REFERENCE GUIDE 41 Notes REFERENCE GUIDE 42 23 _ CALCULATED 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 2010 Pocket Reference Guide copyrighted by Calculated Industries Inc 2010 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 calculated com www calculated com Designed in the USA Printed in China 04 10 PRG3405E D
16. lls and clears Memory Total Sets number of displayed decimal places and acti vates 2nd functions Change sign Pocket REFERENCE GUIDE 4 Eg a Eg 65 ea Eu an gua E o Eg c Em c 3 e Em e Clear All Note perform with caution as it will clear reset stored values Preference mode see pg 9 for details Payments per year Default 12 for monthly Periodic identifies entry as periodic instead of yearly Month offset Odd days interest Tax bracket Estimated tax savings after tax payment Rent vs buy Loan amount P amp l PITI and interest only payment Number of years Annual interest rate Future value Pocket REFERENCE GUIDE 5 EL ue cn am ARM Eg e am ao APR annual percentage rate including mortgage insurance if entered Sales price of property Down payment Bi Weekly loan Amortization function Remaining balance Adjustable rate mortgage ARM decreasing interest adjustment ARM lifetime interest cap Property tax enter as per cent or dollar amount Property homeowner s insurance enter as per cent or dollar amount REFERENCE GUIDE 6 Eu cr Ist Int Term aD aa Mortgage insurance enter as percent or dollar amount Note Once Tax Insurance or values are entered as well as TVM values the second press of or press of GD will compute the or 26 th
17. o 2nd TD 9 78 Find 1st TD loan amount 294 736 84 Find 2nd TD loan amount 55 263 16 Find ist TD payment 1 627 55 Find 2nd TD payment 496 72 Redisplay LTV 80 10 10 80 00 15 00 Use the Gia keys to enter another LTV e g to enter 90 5 enter 9 0 and continue as above REFERENCE GUIDE 39 APPENDIX Default Settings Performing a Reset will return your calcu lator to the default settings below 12 Periods per Year Property Tax Ins Rates Not Permanently Stored Clears Upon Mortgage Ins Rates Not Permanently Stored Clears upon Month Offset of January 1 Two Fixed Decimal Places Amortization Range Specified Year Ent Ent Decimal Place Setting To set the no of decimal places displayed am e 0 000000 Gm 5 0 00000 Shift 4 0 0000 E 3 0 000 Shift 2 0 00 0 0 0 0 ano floating point REFERENCE GUIDE 40 Batteries Replacing the Batteries Slide open and remove the battery door located on upper backside of calculator Remove the old batteries Insert two new LR 44 button cell batteries making sure they re facing posi tive side up Close the battery door pum Reset You 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 E3 key and then turn it bac
18. st only doesn t include property tax Find all values for the second year STEPS KEYSTROKES Display Year 2 Find total interest Find total principal Find total payments Find balance Remaining term Tax deduction DISPLAY 13 24 22 191 53 2 980 20 25 171 72 294 254 30 28 00 6 213 63 etc sequence repeats for each year Note Based on default 28 tax bracket amp loan start in January To change these values see next example REFERENCE GUIDE 25 Amortization for Individual Year s Month Offset Tax Bracket Change Loan 300 000 Term 30 years nterest 7 596 Start Month March Income Tax Bracket 30 Amortize amp find mortgage interest deduc tion for Year 1 if loan starts in March STEPS KEYSTROKES DISPLAY Clear 0 00 Set Month Start to March 3 GD Gy 3 00 Enter tax bracket 3 0 em 30 00 Enter loan 3 0 0 GH 300 000 00 Enter interest 7 5 0 7 50 Enter term 3 0 30 00 Find P amp I payment 2 097 64 Find Year 1 1 10 Find Year 1 interest 18 686 33 Find principal 2 290 11 Find total payments 20 976 44 Cont d REFERENCE GUIDE 26 Cont d STEPS KEYSTROKES DISPLAY Remaining balance 297 709 89 Remaining term 29 17 Mortgage interest deduction Year 1 30 tax bracket 5 605 90 Find all values for the 2nd year Display Year 2 11 22 Find total interest 22 228 43 Note Keep pressing
19. to Value Find the LTV if the sales price is 265 500 and the down payment is 15 000 STEPS KEYSTROKES DISPLAY Clear 0 00 Enter price 2 6 5 5 0 0 265 500 00 Enter down D G9 ED 15 000 00 Find down Gi 5 65 Find LTV Ep CZ 94 35 Pocket REFERENCE GUIDE 16 Setting Tax and Insurance Enter an annual property tax rate of 1 5 a property homeowner s insurance rate of 0 25 and a mortgage insurance rate of 0 50 STEPS KEYSTROKES DISPLAY Set tax CD 9 5 1 50 Set insurance 5 2 5 23 0 25 Set mortgage insurance 5 0 Em C3 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 0 0 REFERENCE GUIDE 17 P amp l PITI and Interest Only Payments Term 30 years Interest 6 25 Sales price 325 000 Down payment 5 Property tax 1 3 Property insurance 0 25 Mortgage insurance 0 45 STEPS KEYSTROKES DISPLAY Clear 0 00 Enter jem 0 im 30 00 Enter interest 6 5 2 5 3 6 25 Enter price 2 GH Gz 25 000 00 Down Gi 5 00 Set tax CD C 3 1 30 Set insurance 2 5 23 0 25 Set MI 9 4 5 Eta CH 0 45 Find loan E 308 750 00 Find P amp I payment run 1 901 03 Find PITI payment 2 436 60 Find
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