Display Qual 1
Ratios
q
32.00 – 40.00
Find Qual 1 maximum Qualifying
Mortgage
q
145,893.06
Find Qual 1 P&I
Payment
p
1,044.48
Find Qual 1 PITH
Payment
p
1,333.33
— DO NOT CLEAR CALCULATOR —
STEPS
KEYSTROKES
DISPLAY
Display Qual 2
Ratios
Q
35.00 – 42.00
Find Qual 2 maximum Qualifying
Mortgage
Q
160,923.25
Find Qual 2 P&I
Payment
p
1,152.08
Find Qual 2 Total
Payment
p
1,458.33
Finding Income Required and Allowable
Monthly Debt
• Sales Price:
$225,000
• Down%:
35%
• Property Tax:
1.5%
• Heating Expense:
$125
• Term:
25 years
• Interest:
7.5%
Find the income required to finance a
$225,000 home and also find the maximum
allowable debt.
(Cont’d)
P
OCKET
R
EFERENCE
G
UIDE
— 25