Calculated Industries 3415-KITE-D User Manual

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Recalling Tax and Insurance % Rates .......................................32
Setting Tax and Insurance $ ......................................................32
Calculating Tax and Insurance % or $ .......................................33
PITI Payment (Tax and Insurance Entered as %) .....................34
Total Payment (Including Expenses) and Interest-Only

Payment..................................................................................34

Estimated Income Tax Savings and “After-Tax” Payment .........35
Rent vs. Buy...............................................................................36
Adjustable Rate Mortgages........................................................37
ARM Payment —

Worst-Case Scenario

....................................38

ARM Payment —

Using Lifetime Cap

.......................................39

Decreasing ARM Payment.........................................................40
Increasing and Decreasing ARM Payment ................................40
Amortization and Remaining Balance........................................41
Notes on Amortization................................................................41
Total Principal and Interest for a 30-Year Loan .........................42
Amortization List for Individual Year(s) —

Using “Next” Feature

..............................................................43

Amortization List for Individual Year(s) —

Using Month Offset

.................................................................44

Amortization List for Individual Payment(s) ...............................45
Amortization List for a Range of Payments or Years.................46
APR and Total Finance Charges ...............................................47
Finding APR, Total Finance Charges

(Excluding Mortgage Insurance).............................................47

Prepaid/Odd-Days Interest and APR .........................................48
Balloon Payment/Remaining Balance Needed to Pay Off

a Loan.....................................................................................49

Bi-Weekly Loans ........................................................................49
Bi-Weekly Term Reduction and Payment ..................................50
Trust Deeds and Discounted Notes ...........................................50
Purchase Price of a Note —

Fully Amortized

............................51

Finding the Yield on a Discounted Note ....................................51
Finding the Value and Discount of a Trust Deed .......................52

BUYER QUALIFYING...................................................................53
QUALIFYING EXAMPLES ...........................................................54

Recalling Income/Debt Qualifying Ratios ..................................54
Storing New Income/Debt Qualifying Ratios..............................54
Finding Qualifying Loan Amount and Sales Price (Simple

Example Excluding Tax/Insurance).........................................55

Qualifying Loan Amount and Sales Price (Complete Example

Including Down Payment, Tax/Insurance, Monthly Association
Dues) ......................................................................................56

“Restricted” Qualifying ...............................................................57