Buyer Qualification 59
Finding Maximum Allowable Debt
1. Enter income percent (if not already entered).
28
#
m
2. Enter debt percent (if not already entered).
36
#
d
3. Enter tax percent (if not already entered).
1.5
#
Z
4. Enter insurance percent (if not already
entered).
.5
#
Q
5. Enter term of loan (in years).
30
0
6. Enter interest rate.
8
1
7. Start the qualification.
>
8. Enter price.
$125,000
j
9. Enter down payment percent (0 to 99).
10
j
10. Enter a zero for monthly debt amount (total).
0
11. Compute qualifying loan amount.
j
$112,500.00
12. Compute payment.
j
$
.
825.49
13. Compute PITI and store it.
j
$
.
1,033.82
T
g
14. Compute qualifying income.
j
$3,692.21
15. Multiply by debt ratio.
O
]
#
d
A
j
$1,329.20
16. Calculate maximum debt.
a
]
g
j
$295.38
