12 — M
ORTGAGE
Q
UALIFIER
P
LUS
®
(Cont’d)
*
*
and
s *
(Int-Only 2nd) Key Output:
For a comparison of a fixed-rate combo loan versus
a fixed-rate loan with required mortgage insurance,
each key press (once all other loan values are entered,
including 1st:2nd Interest:Term) will calculate:
Press Calculation
1
Combo Loan Combined (Blended)
Interest Rate
2
Equivalent Interest Rate of Fixed Rate
Mortgage with Mortgage Insurance
3
Combo Loan Combined (1st/2nd TD)
Payment
4
Equivalent Payment of Fixed Rate Mortgage
with Mortgage Insurance
5
Monthly Savings over Fixed-Rate Loan with
Mortgage Insurance
6
Adjusted 2nd Term (if Savings Applied to
2nd TD)
7
1st Trust Deed Loan Amount
8
2nd Trust Deed Loan Amount
9
1st Trust Deed Payment
10
2nd Trust Deed Payment
11
Displays LTV
!
1st TD Interest:Term — Stores the annual interest
and term for the 1st fixed-rate TD. These values are
used when computing the 1st:2nd fixed Combo
Loan. Entry is made using the
:
key (Interest
:
Term). Both interest and term values are required for
a valid entry. Values will be retained until changed or
reset.
s !
2nd TD Interest:Term — Stores the annual interest
and term for the 2nd fixed-rate TD. Entry is made
using the
:
key (Interest
:
Term). Both interest
and term values are required for a valid entry. Values
will be retained until changed or reset.
