Calculated Industries 3416 Pocket Reference Guide User Manual
Page 36
P
OCKET
R
EFERENCE
G
UIDE
— 32
80:20 Interest-Only 2nd Combo Loan
Find the monthly payments with an 80:20
Interest-Only 2nd Combo Loan:
COMBO (1st/2nd)
Loan
350,000
Interest
5.25% – 7.0%
Term
30 year – 15 year
LTV
80% – 20%
STEPS
KEYSTROKES
DISPLAY
1. Enter the Total of the Combined Loans:
Clear
o o
0.00
Enter combined
Loan total
3 5 0 ) l
350,000.00
2. Enter Combo Loan Values:
Enter 1st TD Interest
and Term
5 • 2 5 : 3 0
!
5.25 - 30.00
Enter 2nd TD Interest
and Term
7 : 1 5 s
!
7.00-15.00
3. Find Combo Loan Values:
Find blended interest rate for
1st/2nd TD
s *
*
5.35
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