Calculated Industries 3125 - Manual (Page 22)

automatically. If entered as dollar
amounts, they need to be re-entered
with a change in Sales Price or Loan
Amount to be correct. The number 10 or
less is assumed to be an annual percent-
age.
Note: While in Pro-Mode, tax and
insurance entries are permanent. Also, the
PITI payment includes monthly expenses.
I
MPORTANT
: Both Tax and (Property)
Insurance rates are based on Sales Price. The
Mortgage Insurance rate is based on the
Loan Amount. If neither Sales Price nor Down
Payment has been entered, the Sales Price
defaults to equal the Loan Amount (i.e.
assuming a 100% loan), in which case the
Tax and Insurance rates are based on the
entered Loan Amount
Setting Tax and Insurance Rates
Enter an annual property tax rate of
1%, a property insurance rate of .25%,
and a mortgage insurance rate of .15%:
Steps/Keystrokes Display
1. Clear calculator:
[On/C] [On/C] 0.00
2. Set Tax rate and Insurance rate:
1 [Tax] 1.00
.25 [Ins] 0.25
3. Set Mortgage Insurance rate:
(Qualifier Plus IIx only)
.15 [Mtg Ins] 0.15
22 — Real Estate Master ® IIx/Qualifier Plus ® IIx