Calculated Industries 3442 - Manual (Page 77)

72 — M
ORTGAGE
Q
UALIFIER
P
LUS
®
P X2
Fixed-Rate Combo Loan (1st TD/2nd TD)
Find the Combo Loan blended interest rate, combined payment, and
1st and 2nd loan amounts and payments, if you have the following
parameters:
FIXED-RATE
COMBO LOAN
(1st TD – 2nd TD)
Loan Amount 100,000
Interest 8% – 10%
Term 30 year – 10 year
LTV 80%:10% (Default)
STEPS KEYSTROKES DISPLAY
1. Enter Combo Loan Values:
Clear All s x 0.00
Enter loan amount 1 0 0 ) l 100,000.00
Enter 1st TD Interest:Term 8 : 3 0 ! 8.00-30.00
Enter 2nd TD Interest:Term 1 0 : 1 0 s ! 10.00-10.00
Recall 1st:2nd LTV ® s d 80.00-10.00
2. Find Combo Loan Values:
Find 1st:2nd combined
interest rate** s 5 8.11
Find total combined (1st/2nd)
payment 5 799.07
Find 1st TD loan amount 5 88,888.89
Find 2nd TD loan amount 5 11,111.11
Find 1st P&I payment 5 652.24
Find 2nd P&I payment 5 146.83
Display LTV 5 80.00-10.00*
*A different LTV can be entered prior to calculating a combo loan (e.g., 8 0 : 1 5
s 5 ) without replacing the stored LTV. This allows for a comparison of different
Loan-to-Value ratios.
Note: To calculate Interest-Only 2nd Trust Deed Combo Loans on model 3442, press
the
4 key instead of the 5 key in Step 2 of the above example.
For Desktop Model (#43442) Users:
**Press the B key for Desktop Model.
Note: Press s before pressing B to calculate Interest-Only 2nd Trust Deed
Combo Loans.