Calculated Industries 3415-KITE-D - Manual (Page 14)

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Tax, Insurance and Expense Keys
In addition to Qualifying, the following keys are also involved in PITI
or total payment calculations (e.g., they are added to the monthly
payment):
t Property Tax — Used for calculating PITI and Total
payment, and Qualifying. Stores estimated annual
property tax in either percent or dollar amount. If
entered as an annual dollar amount, a press of
®
and t converts to the monthly tax amount, and
pressing t again converts to the annual percent-
age rate. If entered as a percentage, pressing ®
t converts to the annual dollar amount, and
pressing t 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).
I Property Insurance — Used for calculating PITI
and Total payment, and 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 I con-
verts to the monthly insurance amount or premium,
and pressing
I again converts to the annual per-
centage rate. If entered as a percentage, pressing
® I converts to the annual dollar amount, and
pressing I 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).
s I Mortgage Insurance (Mtg Ins) — Used for calculat-
ing PITI and Total payment, and Qualifying. Stores
estimated annual mortgage insurance (or Private
Mortgage Insurance) in either percent or dollar
amount. If entered as an annual dollar amount, a
press of
® and s I converts to the monthly
mortgage insurance amount or premium, and press-
ing
I again converts to the annual percentage
rate. If entered as a percentage, pressing ® s
I converts to the annual dollar amount, and press-
ing I once more shows the monthly insurance.