Re-qualify this buyer assuming $200 per month in additional
housing expenses.
Steps
Keystrokes
Display
Enter mo. hsg. expenses
200 [Exp]
200.00
Display qual. ratios
[Qual 1]
28.00 – 36.00
Find new qual. loan amt.
[Qual 1]
“run”
92,961.46
Find new price
[Price]
127,961.46
Qualifying Loan Amount Based on Income & Debts
Buyers who make $68,000 annually with $750 in long-term
monthly debts wish to buy a home offered at $200,000. For
what loan amount can they qualify? (Use previously stored
7.5% interest, 30 year term and qualifying ratios of 28%:36%.)
Steps
Keystrokes
Display
Enter annual income
68,000 [Inc]
68,000.00
Enter monthly debts
750 [Debt]
750.00
Display qual. ratios
[Qual 1]
28.00 – 36.00
Find qual. loan amt.
[Qual 1]
“run”
184,492.74
— D O N O T C L E A R C A L C U L A T O R —
“Non-Restrictive” Qualifying L/A & Actual Ratios
The amount calculated above is the lower, or “restrictive,”
ratio. What does the other “non-restrictive” qualifying ratio cal-
culate to, and which side is it based on (i.e., buyer’s income
or debt)? What are the buyer’s actual income and debt ratios?
Steps
Keystrokes
Display
Find non-restrictive L/A
[Qual 1]
“run” 226,921.30 INC
Find actual ratios
[Qual 1]
“run”
22.76-36.00
Note:The “INC” tells you that the non-restrictive side was based on the
Income Ratios — therefore the restrictive side was based on debts.
— D O N O T C L E A R C A L C U L A T O R —
41 – User’s Guide
