26 — Q
UALIFIER
P
LUS
®
4
X
Sales Price / Down Payment
One of the unique features of this calculator is its ability to work with
not only Mortgage Amount, but with Sales Price and Down Payment.
You can enter two values to find the third (e.g., enter Price and
Down Payment to find Mortgage Amount). You may also enter the
down payment in both percent or dollar format. For example, to
enter 20%, enter 20 and press the
d
key (you do not have to
label it as a percent). Or enter $20,000 (e.g.,
2 0 ) d
).
Note: A number under 100 entered as the Down Payment is assumed to be a percent.
Note: When using
P
,
d
, and
l
keys, it's recommended that you always enter
the two known values (Price and Down Payment), then solve for the third (Mortgage
l
), before calculating financial values.
Finding Mortgage Amount Based on Sales Price and
Down Payment
Find both the down payment dollar amount and mortgage amount if
the sales price is $175,800 and you're planning to put 10% down.
STEPS
KEYSTROKES
DISPLAY
Clear calculator
o o
0.00
Enter sales Price
1 7 5 8 0 0 P
175,800.00
Enter Down Payment %
1 0 d
10.00
Find Down Payment $
d
17,580.00
Find Mortgage Amount
l
158,220.00
Finding Sales Price and Payment Based on Mortgage Amount
and Down Payment
Find a home’s sales price if you've been approved for a $185,650,
25-year, 6.85% mortgage and you plan to put 15% down. Also find
your monthly payment.
STEPS
KEYSTROKES
DISPLAY
Clear calculator
o o
0.00
Enter Mortgage Amount
1 8 5 6 5 0 l
185,650.00
Enter Term
2 5 T
25.00
Enter Interest
6 • 8 5 ˆ
6.85
Enter Down Payment %
1 5 d
15.00
Find Down Payment $
d
32,761.76
Find sales Price
P
218,411.76
Find monthly P&I Payment
p
“run” 1,283.17
