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Finding Loan-to-Value (LTV) Based on Down Payment and
Sales Price
Find the Loan-to-Value if a buyer is putting $15,000 down on a
$197,000 home. Then find the mortgage amount.
STEPS
KEYSTROKES
DISPLAY
Clear calculator
o o
0.00
Enter sales Price
1 9 7 ) P
197,000.00
Enter Down Payment $
1 5 ) d
15,000.00
Find Down Payment %
d
7.61
Find LTV
d
92.39
Find Mortgage Amount
l
182,000.00
Setting Property Tax Percent Rate
Enter an annual property tax rate of 1.5%.
STEPS
KEYSTROKES
DISPLAY
Set Tax rate
1 • 5 t
1.50
Clear display
o o
0.00
Recall Tax rate
® t
1.50
Setting Property Tax Dollar Amount
Enter annual property taxes estimated at $2,500, then clear.
STEPS
KEYSTROKES
DISPLAY
Set annual Taxes
2 5 0 0 t
2,500.00
Clear Tax
0 t
0.00
Total Payment (Including Heating Expense)
Find the Total (PITH) payment on a 25-year, 7.63% mortgage if the
home’s selling price is $178,000 and the down payment is 5%.
Monthly heating cost is estimated at $150.
STEPS
KEYSTROKES
DISPLAY
Clear calculator
o o
0.00
Enter Term in years
2 5 T
25.00
Enter annual Interest
7 • 6 3 ˆ
7.63
Enter sales Price
1 7 8 ) P
178,000.00
Enter Down Payment
5 d
5.00
Add mo. heating Expense
1 5 0 s D
150.00
Find Mortgage Amount
l
169,100.00
Find P&I Payment
p
“run” 1,250.90
Find Total (PITH) Payment
p
1,400.90