User`s guide

P
OCKET REFERENCE GUIDE — 28
Qualifying Comparison
(2 Ratios at Once)
• Buyer’s income: $55,000
• Monthly debt: $500
• Property taxes: 1.25%
• Property insurance: 0.3%
• Mortgage insurance: 0.45%
• Monthly association dues: $50
• Term: 30 years
• Interest: 6.25%
Qualify this buyer based on both 28%:36%
and 29%:41% ratios:
STEPS KEYSTROKES DISPLAY
Clear o o 0.00
Enter income 5 5 ) i 55,000.00
Enter debt 5 0 0 D 500.00
Enter tax% 1 • 2 5 s 7 1.25
Enter insurance%
• 3 s 8 0.30
Enter MI% • 4 5 s 9 0.45
Enter monthly association
dues 5 0 e 50.00
Enter term 3 0 T 30.00
Enter interest 6 • 2 5 ˆ 6.25
Display Qual 1
ratios q 28.00-36.00
(Cont’d)