P
OCKET
R
EFERENCE
G
UIDE
— 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)
Summary of Contents for 3430
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