Calculated Industries 3442 User Manual
Page 14
U
SER
’
S
G
UIDE
— 9
Tax, Insurance and Expense Keys
In addition to Qualifying, the following keys are also involved in PITI
and Total Payment calculations (e.g., they are added to the monthly
payment):
s 7
Property Tax (Tax)
— Used for calculating the PITI
payment and for Qualifying. Stores estimated annual
property tax in either percent or dollar amount. If
entered as an annual dollar amount, a press of
®
and
7
converts to the monthly tax amount, and
pressing
® 7
again converts to the annual per-
centage rate. If entered as a percentage, pressing
® 7
converts to the annual dollar amount, and
pressing
® 7
once more shows the monthly tax.
Note: Entering a number equal to or less than 10 is assumed to
be an annual percentage. Property tax is calculated from the
sales price (therefore, you should also enter a Down Payment).
s 8
Property Insurance (Ins)
— Used for calculating
the PITI payment and for Qualifying. Stores estimated
annual property or homeowner’s insurance in either
percent or dollar amount. If entered as an annual
dollar amount, a press of
®
and
8
converts to the
monthly insurance amount or premium, and press-
ing
® 8
again converts to the annual percentage
rate. If entered as a percentage, pressing
® 8
converts to the annual dollar amount, and pressing
® 8
once more shows the monthly insurance.
Note: Entering a number equal to or less than 10 is assumed to
be an annual percentage. Property insurance is calculated from
the sales price (therefore, you should also enter a Down Payment),
unless changed in Preference Settings.
s 9
Mortgage Insurance (Mtg Ins)
— Used for calculat-
ing the PITI payment and for Qualifying. Stores esti-
mated annual mortgage insurance in either percent
or dollar amount. If entered as an annual dollar
amount, a press of
®
and
9
converts to the
monthly mortgage insurance amount or premium,
and pressing
® 9
again converts to the annual
percentage rate. If entered as a percentage, press-
ing
® 9
converts to the annual dollar amount, and
pressing
® 9
once more shows the monthly
insurance.
(Cont’d)