U
SER
’
S
G
UIDE
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3) Calculates the annual income required and
allowable monthly debt for a desired mortgage
amount or sales price based on the stored income
and debt qualifying ratios and the entered:
• Term
• Interest
• Price (down payment) or mortgage amount
4) Also finds buyer's actual income and debt
ratios given both buyer and property data. By
default, the first press of
q
displays the stored
qualifying ratios and the 2nd press calculates the
buyer's actual ratios.
Note on U.S. Qualifying: If the calculator is in
Canadian Mode (see page 11) and you want to
qualify in
U.S. Mode, activate U.S. Mode via
s +
and enter new U.S. Qualifying Ratios into the
q
and
Q
keys.
Q
(Qualify Based on 35%-42%) — Stores additional
Income and Debt ratios and operates identically to
the
q
key. Default Income and Debt ratios for this
key are 35% and 42%, respectively.
Note: You may store whatever ratios you desire in the
q
or
Q
keys.
i
Income — Enters the buyer’s annual income for
mortgage qualifying. Or, enters a monthly income
when preceded by the
s b
keys (e.g.,
5 )
s b i
enters a monthly income of $5,000).
D
Enters buyer’s long-term,
monthly debt (e.g., car
payments, credit cards with large balances/long-
term monthly payments).
s D
Expense (Exp) — Enters monthly heating or other
housing expenses (e.g., condominium fees) for cal-
culating the Total (PITH) Payment or for Qualifying.
C
Canadian Mortgage Insurance — Used to enter
mortgage insurance. Can be entered as a percent-
age or a dollar amount. Numbers over ten will auto-
matically be considered a dollar amount.
