Solving for Actual Qualifying Ratios with Borrower & Property Data
A buyer who makes $85,000 annually and has $1,000 in long-
term monthly debts wants to borrow $150,000 to purchase a
home. Estimating an additional $300 per month for other
housing expenses, what will this borrower’s ratios be? (Use
10% interest for 30 years.)
Steps
Keystrokes
Display
Clear calculator
[On/C] [On/C]
0.00
Enter interest
10 [Int]
10.00
Enter term
30 [Term]
30.00
Enter loan amount
150,000 [L/A]
150,000.00
Enter annual income
85,000 [Inc]
85,000.00
Enter monthly debts
1,000 [Debt]
1,000.00
Enter monthly expenses
300 [Exp]
300.00
Display stored ratios
[Qual 1]
28.00 – 36.00
Calculate actual ratios
[Qual 1]
“run” 22.82 – 36.94
45 – User’s Guide
