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(Cont’d)
STEPS
KEYSTROKES
DISPLAY
3. Find 90:5:5 Combo Loan and Comparison Values (vs. Fixed-Rate
Loan with Mortgage Insurance):
Enter LTV and find 1st:2nd blended
interest rate
9 0 : 5 *
8.05
Find equivalent interest rate of
fixed-rate loan with mortgage
insurance/MI
*
9.95
Find total combined (1st/2nd)
payment
*
764.70
Find equivalent payment of
fixed-rate loan with MI
*
873.64
Find monthly savings over fixed-rate
loan with MI
*
108.94
Find adjusted 2nd term (if savings
applied to 2nd TD)
*
2.83
Find 1st TD loan amount
*
94,736.84
Find 2nd TD loan amount
*
5,263.16
Find 1st TD monthly
payment
*
695.15
Find 2nd TD monthly
payment
*
69.55
Re-display LTV
*
90.00-5.00
Note: an entered LTV is not stored; in order to re-calculate a Combo Loan based on a
different LTV than 80:10:10 or 80:15:5, you will need to enter the LTV prior to press-
ing
*
(or
s *
).
