Calculated Industries 3125 User Manual
Page 53
Important:
Be sure to turn the “Pro-
Mode” off ([Set] [+]) before continuing to
other problems, as it will store future
amounts entered into the Tax, Insurance
and Mortgage Insurance keys permanent-
ly, in addition to changing the sequence
the values are displayed using the [Qual
1]
and [Qual 2] keys.
Qualifying for Specified Purchase Price Based
on Income & Debt – Tax/Insurance Included
The same buyers earning $68,000
annually with $750 in monthly debts
now wish to buy a lower-priced home
and are willing to put $20,000 down. If
you include estimated annual property
taxes of 1%, insurance of 0.5% and a
mortgage insurance rate of 0.25%,
what loan amount can they now qual-
ify for? (Again, use previously stored
7.5% interest, 30 year term and quali-
fying ratios of 28%:36%.)
Steps/Keystrokes
Display
1. Clear calculator:
[On/C] [On/C]
0.00
2. Enter down payment, annual income
and monthly debts:
20,000 [Dn Pmt]
20,000.00
68,000 [Inc]
68,000.00
750 [Debt]
750.00
Continued on the next page ➟
User’s Guide — 53