U
SER
’
S
G
UIDE
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(Cont’d)
calculate the P-A-P Savings and ROI for the first two
years. Calculating the P-A-P (or EB P-A-P) with an
entered number greater than five years will still cal-
culate the P-A-P Savings and ROI for years 1-5;
however, the P-A-P loan will be amortized based
upon the range entered (i.e.,
7 ∏
will calculate
P-A-P Savings and Investment Savings w/ROI for
years 1-5, and the Amortized values will be calculat-
ed for years 1-7).
e
Equity Builder Pick-A-Payment Adjustable Rate
Mortgage — Operates identically to the regular
P-A-P key, except it’s based on 26 payments per
year instead of 12.
s ∏
Payment Options — Displays the P-A-P Start pay-
ment (1st year only), the interest-only payment
(based on Note Rate), 30-year payment (based on
Note Rate), 15-year payment (based on Note Rate),
and P-A-P deferred interest payment.
s e
Payment Options — Same values as above, but
for the Equity Builder Pick-A-Payment loan.
Combo Loan Keys
The Combo Loan keys show the savings of obtaining a 2nd Trust
Deed (TD) loan over a single, fixed-rate loan where mortgage insur-
ance (MI) is required.
This routine requires a fixed-rate loan to be entered using the stan-
dard
l
,
p
,
ˆ
and/or
T
keys so that a loan comparison can
be made.
s d
Loan-to-Value Combo Loan (LTV 1st:2nd) —
Stores the Loan-to-Value (LTV) ratio for the 1st and
2nd TD loans using the
:
key. The stored values are
a percentage of the sales price (e.g.,
8 0 : 1 0
identifies that 80% of the price is covered by the 1st
TD, 10% of the price is covered by the 2nd TD and
the remaining 10% is covered by the down pay-
ment). Both values need to be entered for a valid
entry. Values will be retained until changed or reset.
(Default: 80.00-10.00)
