Calculated Industries 3430, Pocket Reference Manual

Page 1: ...QUALIFIER PLUS IIIFX ADVANCED REAL ESTATE FINANCE CALCULATOR with CASH FLOW and COMPLETE BUYER QUALIFYING Model 3430 Pocket Reference Guide...

Page 2: ...ncome Debt Qualifying Using Flexible Ratios Property Tax and Insurance Mortgage Insurance P I and PITI payment Sales Price and Down Payment Adjustable Rate Mortgages Amortization and Remaining Balance...

Page 3: ...ance 14 PITI Payment Total Payment and Interest Only Payment 15 Quarterly Payment 16 Amortization 17 Bi Weekly Loans 18 Appreciation 19 Retirement Savings 20 APR and Total Finance Charges Including Mo...

Page 4: ...Once 31 Income Required and Allowable Monthly Debt 33 80 10 10 Combo Loan vs Fixed Rate Loan with Mortgage Insurance 35 Cash Flow 38 APPENDIX 40 Default Settings 40 Decimal Place Setting 40 Preference...

Page 5: ...ent qualifying ratios and combo loans b Backspace key for back ing up deleting wrong entry Recalls or re displays a value when followed by a chosen key e g will display current interest value Memory F...

Page 6: ...l reset calculator to defaults s Preference mode see Large User s Guide for details s Payments per year Default 12 for monthly s b Periodic sets per Period rather than per Year s Month offset s Odd da...

Page 7: ...R annual percentage rate including mortgage insurance if entered P Property price d Down payment s T Bi Weekly loan a Amortization function s a Remaining balance A Adjustable rate mortgage s A ARM dec...

Page 8: ...ter as per cent or dollar amount s 9 Mortgage insurance enter as percent or dollar amount e Monthly expenses such as homeowner s associa tion dues s d For entering or finding Loan to Value ratio and c...

Page 9: ...fixed rate loan w mortgage insurance You may enter any LTV prior to pressing this key e g LTV of 90 5 enter 9 0 5 s Combo loan function for an 80 15 5 loan same func tion as above key c Allows entry o...

Page 10: ...T REFERENCE GUIDE 6 R Multi function key that computes upon consecu tive presses IRR NPV NFV used for cash flow analysis The greater the IRR and NPV the more attractive the investment s 6 Clear cash f...

Page 11: ...onth 6 6 Enter day 1 5 6 15 Enter year 0 4 6 15 04 Add 45 days 4 5 FRI 07 30 04 Monthly Mortgage P I Payment Find the monthly P I payment on a 30 year fixed rate loan of 265 000 at 6 75 annual interes...

Page 12: ...30 year loan and you can afford 1 500 in month ly payments What if the interest rate is lowered to 6 STEPS KEYSTROKES DISPLAY Clear o o 0 00 Enter interest 6 5 6 50 Enter term 3 0 T 30 00 Enter paymen...

Page 13: ...0 P 375 500 00 Enter down 2 0 d 20 00 Find down d 75 100 00 Find loan l 300 400 00 You do not have to label the value as a percent Interest Rate Find the interest rate on a mortgage if the loan amount...

Page 14: ...ake to pay off a loan of 15 000 at 10 interest if you make pay ments of 200 each month STEPS KEYSTROKES DISPLAY Clear o o 0 00 Enter loan 1 5 l 15 000 00 Enter interest 1 0 10 00 Enter payment 2 0 0 p...

Page 15: ...STEPS KEYSTROKES DISPLAY Enter tax 1 5 s 7 1 50 Enter insurance 2 5 s 8 0 25 Enter mortgage insurance 5 0 s 9 0 50 Note Do not label as a percent or use the key it is automatically registered as a pe...

Page 16: ...0 25 Mortgage insurance 0 45 Find the Monthly PITI payment STEPS KEYSTROKES DISPLAY Clear o o 0 00 Enter term 3 0 T 30 00 Enter interest 6 2 5 6 25 Enter price 3 2 5 P 325 000 00 Enter Down 5 d 5 00 E...

Page 17: ...al payment p p p 2 516 60 Find interest only payment p 1 608 07 Quarterly Payment Find the quarterly payment on a 10 year loan of 15 000 with an annual interest rate of 12 STEPS KEYSTROKES DISPLAY Cle...

Page 18: ...0 00 Find P I pmt p 2 097 64 Find pmts a 1 360 Find total int a 455 151 67 Find total prin a 300 000 00 Find total pmts a 755 151 67 Find all values for the first year Enter Year 1 1 a 1 12 Find total...

Page 19: ...EPS KEYSTROKES DISPLAY Clear o o 0 00 Enter loan 2 1 2 5 0 0 l 212 500 00 Enter term 3 0 T 30 00 Enter interest 7 8 5 7 85 Find payment p 1 537 09 Find Bi Weekly term s T 22 97 Find total interest sav...

Page 20: ...figuring an inflation or appreciation rate of 6 STEPS KEYSTROKES DISPLAY Clear o o 0 00 Set to 1 payment per year 1 s 1 00 Enter present value 3 5 0 l 350 000 00 Enter term 3 T 3 00 Enter appreciation...

Page 21: ...ar 12 00 Enter deposit 1 0 l 10 000 00 Enter term 3 0 T 30 00 Enter interest 7 7 00 Find FV s l 81 164 97 Add to M M 81 164 97 Clear o o 0 00 Enter payment 2 5 0 p 250 00 Find FV s l 304 992 75 Change...

Page 22: ...Clear o o 0 00 Enter loan 2 5 0 l 250 000 00 Enter term 3 0 T 30 00 Enter interest 7 7 00 Find P I pmt p 1 663 26 Enter MI 1 2 0 0 s 9 1 200 00 Find Loan Costs Recall loan l 250 000 00 Find points x 1...

Page 23: ...ed ARM payments through year six STEPS KEYSTROKES DISPLAY Clear o o 0 00 Enter loan 2 3 0 l 230 000 00 Enter term 3 0 T 30 00 Enter interest 7 2 5 7 25 Find initial monthly P I payment p run 1 569 01...

Page 24: ...4 68 M Find principal at start of 6th year l 220 856 34 Recall current interest rate 11 25 Recall remaining term T 25 00 Clear Cap 0 s CAP 0 00 Note that the payment for 4th and 5th adjust ments corre...

Page 25: ...s estimated income tax savings and after tax payment STEPS KEYSTROKES DISPLAY Clear o o 0 00 Enter term 3 0 T 30 00 Enter interest 8 8 00 Enter tax 1 5 0 0 s 7 1 500 00 Enter insurance 2 5 0 s 8 250...

Page 26: ...he or she could afford STEPS KEYSTROKES DISPLAY Clear o o 0 00 Enter term 3 0 T 30 00 Enter interest 7 5 7 50 Enter down 1 0 d 10 00 Enter tax 1 2 5 s 7 1 25 Enter insurance 3 5 s 8 0 35 Tax bracket...

Page 27: ...PLAY Clear o o 0 00 Enter qualifying ratios 3 0 3 8 q 30 00 38 00 Return ratios to defaults 2 8 3 6 q 28 00 36 00 Qualifying Loan Amount Buyer s income 75 000 Monthly debt 500 Down 5 000 Property taxe...

Page 28: ...nter tax 1 5 s 7 1 50 Enter ins 2 5 s 8 0 25 Enter MI 6 s 9 0 60 Enter association dues 5 0 e 50 00 Enter interest 7 5 7 50 Enter term 3 0 T 30 00 Display ratios q 28 00 36 00 Find qualifying loan amo...

Page 29: ...5 Qualifying ratios 28 36 Find the Restricted qualifying loan amount actual ratios Unrestricted loan amount and maximum allowable debt Re enter 0 6 mortgage insurance rate 50 association dues and 5 0...

Page 30: ...ce 8 0 25 Re enter MI 6 s 9 0 60 Re enter homeowner s dues 5 0 e 50 00 Enter down 5 d 5 000 00 Enter income 6 8 i 68 000 00 Enter monthly debt 7 5 0 D 750 00 Display qualifying ratios q 28 00 36 00 Fi...

Page 31: ...ote The INC tells you this unrestricted Qualifying Loan Amount is based on the buyer s Income Ratio therefore the restricted Qualifying Loan Amount is based on the buyer s Debt Ratio This means that i...

Page 32: ...es 50 Term 30 years Interest 6 25 Qualify this buyer based on both 28 36 and 29 41 ratios STEPS KEYSTROKES DISPLAY Clear o o 0 00 Enter income 5 5 i 55 000 00 Enter debt 5 0 0 D 500 00 Enter tax 1 2 5...

Page 33: ...I payment p 865 67 Find Qual 1 PITI Payment p 1 100 00 Find total payment p 1 150 00 DO NOT CLEAR CALCULATOR STEPS KEYSTROKES DISPLAY Display Qual 2 ratios Q 29 00 41 00 Find Qual 2 qualifying loan Q...

Page 34: ...d the income required to finance a 300 000 home and the maximum allow able debt Note Clear mortgage insurance rate to zero as the down payment is 20 STEPS KEYSTROKES DISPLAY Clear o o 0 00 Enter inter...

Page 35: ...nt d STEPS KEYSTROKES DISPLAY Find loan l 240 000 00 Display qualifying ratios q 28 00 36 00 Find income required q 79 626 76 Find maximum allowable monthly debt q 530 85 Find P I payment p 1 420 46 F...

Page 36: ...insurance The loan parameters are FIXED COMBO w PMI 1st 2nd Loan 250 000 250 000 Interest 6 50 6 00 8 50 Term 30 30 year 15 year PMI 0 62 LTV 95 80 10 STEPS KEYSTROKES DISPLAY 1 Enter Fixed Rate Loan...

Page 37: ...uding PMI p 1 709 34 2 Enter Combo Loan Values Enter 1st TD Interest and Term 6 3 0 6 00 30 00 Enter 2nd TD Interest and Term 8 5 1 5 s 8 50 15 00 3 Find Combo Loan Values Find blended interest rate f...

Page 38: ...avings over fixed rate loan with mortgage insurance 103 46 Display adjusted 2nd term if savings applied to 2nd TD 8 71 Find 1st TD loan amount 222 222 22 Find 2nd TD loan amount 27 777 78 Find 1st TD...

Page 39: ...75 000 He expects the annual cash flows below Find the IRR NPV NFV Annual Cash Flow Year 1 16 000 Year 2 16 600 Year 3 16 900 Year 4 17 200 Year 5 275 000 STEPS KEYSTROKES DISPLAY Clear CF s 6 0 00 Se...

Page 40: ...Enter last CF 2 7 5 c C 5 275 000 00 Find IRR R 9 83 Enter desired rate of return and find NPV 9 s R 7 616 73 Find NFV R 11 719 29 Re display desired rate of return R 9 00 Clear registers s x 0 00 An...

Page 41: ...lears upon o o Month Offset of January 1 Two Fixed Decimal Places Amortization Range Specified Year Ent Ent Qual 1 Ratios 28 36 Qual 2 Ratios 29 41 Qualifying Ratios Displayed 1st Decimal Place Settin...

Page 42: ...s Batteries Replacing the Batteries Slide open and remove the battery door located on upper backside of calculator Remove the old batteries Insert two new LR44 button cell batteries making sure they r...

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