Calculated-industries 3416 User Guide Manual de usuario descargar pdf (Pagina 15)

10 — M

ORTGAGE

UALIFIER

LUS

(Cont’d)

3) Calculates the annual income (“Stated Income”)

required and allowable monthly debt for a desired

loan amount or sales price based on the stored

income and debt qualifying ratios and the entered:

• Term

• Interest

• Price (down payment) or Loan Amount

4) Also finds buyer's actual income and debt

ratios given both buyer and property data. By

default, the first press of q displays the stored

qualifying ratios and the second press calculates the

buyer's actual ratios.

Qualify Based on 31%-43%

— Stores additional

Income and Debt ratios (e.g., FHA/VA) and operates

identically to the q key. Default Income and Debt

ratios for this key are 31% and 43%, respectively.

Note: You can store whatever ratios you desire in the

keys.

s q

Interest-Only Qualifying Based on 28%-36%

—

Keys used for interest-only Qualifying; operate iden-

tically to the q and Q keys.

s Q

Interest-Only Qualifying Based on 31%-43%

—

Operates identically as s q, but uses default

Income and Debt ratios 31%-43%.

Income

— Enters the buyer’s

annual

income for

loan qualifying. Enters a

monthly

income when pre-

ceded by the s b

(periodic)

keys (e.g., 5 0

0 0 s b i).

D Enters buyer’s long-term,

monthly

debt (e.g., car

payments, credit cards with large balances/long-

term monthly payments).

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