Buyer Qualification 55
Finding Qualifying Loan Amount Based on
Tax, Insurance, and Down Payment Percents
1. Clear TVM values (if not already cleared).
#
-
2. Enter income percent (if not already entered).
28
#
m
3. Enter debt percent (if not already entered).
36
#
d
4. Enter tax percent (if not already entered).
1.5
#
Z
5. Enter insurance percent (if not already entered).
.5
#
Q
6. Enter term of loan (in years).
30
0
7. Enter interest rate.
8
1
8. Start the qualification.
?
9. Enter gross monthly income amount (total).
$6,500
j
10. Enter monthly debt amount (total).
$495
j
11. Enter down payment percent (0 to 99).
20
12. Compute PITI.
j
$
.
1,820.00
13. Compute payment.
j
$
.
1,417.53
14. Compute qualifying loan amount.
j
$193,185.87
15. Compute qualifying sales price.
j
$241,482.34
16. Compute down payment amount.
j
$48,296.47
