Qualifying
When qualifying a prospective buyer,
the
[Qual 1]
and
[Qual 2]
keys are
used to perform the following qualify-
ing functions:
1.
Store a GDSR:TDSR Ratio:
The entered
ratio will remain in storage until
revised or reset. (
[Qual 1]
defaults to
28%:36% and
[Qual 2]
to
29%:41%
.)
Note:
The
[Qual 2]
key stores addi-
tional (i.e., U.S. Government, FHA/
VA, etc.), GDSR and TDSR ratios; oth-
erwise it operates exactly as the
[Qual
1]
key.
2.
Find the Maximum (Qualifying) Loan
Amount
based on income and other
entered values (interest, term, taxes,
insurance, etc.) when loan amount is
zero.
Note:
The Qualifying Loan Amount is
automatically stored in the Loan Amount
[L/A]
register.
The first press of
[Qual 1]
or
[Qual
2]
displays the stored ratios, the sec-
ond press displays the “restrictive”
qualifying loan amount, the third press
displays the “nonrestrictive” qualifying
loan amount, and the fourth press dis-
plays the buyer’s actual GDSR and
TDSR ratios.
38 — Qualifier Plus
®
IIcx
