[Qual 2]
Stores additional (i.e., Government
FHA/VA) Income and Debt ratios and
operates same as the
[Qual 1]
key.
Default Income and Debt ratios for this
key are 29% and 41%, respectively.
[Inc]
Income:
Enters the annual income for
loan qualifying.
[Debt]
Enters long-term monthly debt pay-
ments.
[Exp]
Expense:
Enters monthly housing expens-
es (i.e., homeowners’ association dues,
maintenance and utilities).
[Mtg Ins]
Mortgage Insurance:
Stores and recalls
annual mortgage insurance (i.e., Private
Mortgage Insurance) in either percent or
dollar amount. If entered as a dollar
amount, a second press converts to
annual percentage rate. If entered as a
percentage, a second press shows the
equivalent annual dollar amount. The
number 10 or less is assumed to be an
annual percentage. Computed from the
loan amount.
Note:
The calculator will
remember the value as it was entered (i.e., a
percent or dollar value.)
User’s Guide — 11
