Calculated Industries 3420 Pocket Reference Guide - Manual (Page 25)

P OCKET R EFERENCE G UIDE — 24
Setting Qualifying Ratios
In Canadian Mode, GDS:TDS (Gross
Debt Service/Total Debt Service) ratios of
32% and 40% are permanently stored in
the
q key, and optional ratios of 35%-
42% in the Q key. However, you can
enter any ratios you desire. For example,
enter new qualifying ratios of 30% for
GDS and 38% for TDS in
q :
STEPS KEYSTROKES DISPLAY
Clear o o 0.00
Set Ratios 3 0 : 3 8 q
30.00-38.00
Qualifying Mortgage Amount
• Buyer’s Income: $45,000
• Monthly Debt: $250
• Down Payment: 25%
• Property Tax: 1.5%
• Monthly heating exp: $100
• Term: 25 years
• Interest: 7.25%
• GDS/TDS Ratios: 32% – 40%
(Cont’d)
3420PRG-E-A 7/2/04 9:07 AM Page 24