Calculated Industries 3430 User Manual Download

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UALIFIER

LUS

III

ADVANCED

RESIDENTIAL REAL ESTATE FINANCE CALCULATOR

with

CASH FLOW

and

COMPLETE BUYER QUALIFYING

Model 3430 •

Qualifier Plus

III

Model 43430 •

Qualifier Plus

III

FX Desktop

Summary of Contents for 3430

Page 1: ...QUALIFIER PLUS IIIFX ADVANCED RESIDENTIAL REAL ESTATE FINANCE CALCULATOR with CASH FLOW and COMPLETE BUYER QUALIFYING Model 3430 Qualifier Plus IIIFX Model 43430 Qualifier Plus IIIFX Desktop...

Page 2: ...nd the Restricted and Unrestricted Qualifying Loan Amount Instant P I PITI and Total Payment Interest Only Payment Expanded Tax and Insurance Capabilities Built in Sales Price and Down Payment Works i...

Page 3: ...rence Settings 22 MEMORY 24 Accumulative Memory 24 Memory Storage Keys M0 M5 25 EXAMPLES 27 MORTGAGE LOANS TIME VALUE OF MONEY TVM 27 Finding the Monthly Mortgage P I Payment 28 Finding the Loan Amoun...

Page 4: ...mp Sum 44 Retirement Savings Future Value of Monthly Investment Using Beginning Mode 44 Non Monthly Loans 45 Finding a Quarterly Payment 46 Trust Deeds and Discounted Notes 46 Purchase Price of a Note...

Page 5: ...ombo Loan 80 10 10 vs Fixed Rate Loan with Mortgage Insurance 68 Combo Loan 80 15 5 vs Fixed Rate Loan with Mortgage Insurance 70 Combo Loan Entering a New LTV 72 Financed Mortgage Insurance Compared...

Page 6: ...deletes entries one digit at a time Decimal point Percent Four function x percent key See page 18 for examples Memory Adds the displayed number to the cumulative Memory Pressing s M will subtract the...

Page 7: ...eys such as Price and Down Payment are also included These mortgage loan keys let you easily demonstrate various what if loan scenarios to your clients l Loan Amount Enters or solves for the initial l...

Page 8: ...a Down Payment and Sales Price Loan Amount and Down Payment or Loan Amount and Sales Price are entered Also calculates the above dolar values if an LTV percent and one of the above values are entered...

Page 9: ...ion it does not include property tax See Tax Savings Keys for income tax savings including property tax and mortgage interest on page 11 s a Remaining Balance Bal Displays the remain ing balance when...

Page 10: ...Bi Wkly Converts a regular monthly loan to a Bi Weekly loan where the buyer may real ize significant interest savings After loan variables are entered pressing s T displays the reduc tion in term The...

Page 11: ...ing Stores esti mated annual property or homeowner s insurance in either percent or dollar amount If entered as an annual dollar amount pressing 8 converts to the monthly insurance amount or premium a...

Page 12: ...culates an estimated annual income tax savings for a mortgage based on entered loan variables including property tax mortgage interest and tax bracket You may use the stored Tax Bracket or enter a tax...

Page 13: ...the following pre qualifying functions 1 Stores income and debt ratios for loan qualifying Ratios are entered using the Colon key Income Ratio Debt Ratio For example income and debt ratios of 28 and 3...

Page 14: ...employment history 2 Calculates the maximum loan amount for which a buyer may qualify based on the stored income and debt qualifying ratios and the entered term interest annual income monthly debt and...

Page 15: ...y could qualify for if they paid off debt or increased income 3 Calculates the annual income required and allowable monthly debt for a desired loan amount or sales price based on the stored income and...

Page 16: ...d by the 2nd TD and the remaining 10 is covered by the down payment s Loan to Value Combo Loan for 80 15 5 The second function of this key provides a loan compari son see below of an 80 15 5 combo fix...

Page 17: ...fixed rate TD These values are used when computing the 1st 2nd fixed Combo Loan Entry is made using the key Interest Term Both interest and term values are required for a valid entry Values will be re...

Page 18: ...ure Value NFV 4 Desired Interest Rate entered prior to cal culating or stored in key IRR The rate of return at which the discounted future cash flows equal the initial cash outlay C 0 An IRR greater t...

Page 19: ...1 0 275 00 C 2 5 5 0 12 50 D 2 0 0 5 0 400 00 The percent key has special applications for real estate profes sionals especially when figuring a commission amount Figuring Straight Percent Commission...

Page 20: ...ar calculator o o 0 00 Enter sales price 1 7 5 5 0 0 175 500 Subtract 5 5 8 775 00 Find new listing price 166 725 00 Simple 1 Year Home Appreciation Add on Properties in your area have been going up i...

Page 21: ...a second date in the past and 3 subtract one date from another date to find the number of days in between For exam ple if a 45 day escrow begins April 26 2007 what is the closing date and day STEPS K...

Page 22: ...r of decimal places you wish to display s 5 0 00000 s 4 0 0000 s 3 0 000 s 2 0 00 s 1 0 0 s 0 0 s floating point To return to the standard two decimal place setting press s 2 Note This setting will re...

Page 23: ...s default or factory set Preference Settings perform a total Reset see page 81 After s Keep Description Pressing Press to Advance Display within each category to Back up 1 Decimal Places DEC OFF 0 00...

Page 24: ...rance entry at O HOLD ALL M Ins Holds or mortgage insurance entry at O 5 Amortization Single Entries AMRT Ent Ent Displays amortization for specified year only e g enter 5 a payments 49 60 Default AMR...

Page 25: ...play and clear Memory Subtract displayed value from Memory s Replace Memory with displayed value s The Memory is semi permanent that is it will only be cleared when you 1 turn off the calculator 2 pre...

Page 26: ...lue in place of the stored value FUNCTION KEYSTROKES Store single value in M0 s 0 Store single value in M1 s 1 Store single value in M2 M5 s 2 3 4 or 5 Clear register e g M1 0 s 1 Review stored value...

Page 27: ...se Storage Registers operate identically to M0 M5 Examples Store 250 into M10 and recall the value STEPS KEYSTROKES DISPLAY Store value in M10 2 5 0 s 0 M 10 250 00 Turn off and then turn on O o 0 00...

Page 28: ...o press o twice after completing a finan cial problem to ensure that you have cleared the previous l and p registers 7 When solving for a financial component the calculator may dis play the word run i...

Page 29: ...ow much could you borrow if the interest rate was 7 8 on a 30 year loan and you could afford 1 500 in monthly pay ments What if the interest rate was lowered to 7 5 STEPS KEYSTROKES DISPLAY Clear calc...

Page 30: ...periodic Term T 118 19 Paying Off a Mortgage Early Making Larger Payments How long does it take to pay off a 30 year fixed rate mortgage of 150 000 at 8 5 interest if you add an extra 200 to the mortg...

Page 31: ...h Sales Price and Down Payment You can enter two values to find the third e g enter Price and Down Payment to find Loan Amount You may also enter the Down Payment in both percent or dollar format For...

Page 32: ...d and Tax and Insurance will be recalculated automatically If entered as dollar amounts however they will need to be re entered for a change in Sales Price or Loan Amount to be correct Entering values...

Page 33: ...7 1 50 Recall insurance rate 8 0 25 Recall mortgage insurance rate 9 0 50 Note To change these values simply enter new ones Or turn the calculator off then on and the values will be cleared unless the...

Page 34: ...rty Tax rate 1 5 s 7 1 50 Enter insurance rate 2 5 s 8 0 25 Enter Mortgage Insurance rate 5 s 9 0 50 Enter Price 2 5 0 P 250 000 00 Enter Down Payment 1 0 d 10 00 Enter Term in years 3 0 T 30 00 Enter...

Page 35: ...tal monthly payment including principal interest tax insurance and monthly expenses and the interest only payment on a 30 year 6 loan if the home s selling price is 330 000 and the down payment is 15...

Page 36: ...nd Remaining Balance using the s a key by specifying a year or range of years period or range of periods For example to find the remaining balance after the 10th year press 1 0 s a to find the remaini...

Page 37: ...Year 2 press 2 a would display values for periods 10 21 Turning your calculator off and back on returns the Month Offset to 1 January Note If you have changed your Month Offset be sure to return it t...

Page 38: ...t paid a 455 151 67 Find total principal paid a 300 000 00 Find total principal interest a 755 151 67 Balloon Payment Remaining Balance Needed to Pay Off a Loan You re looking at a new home with the f...

Page 39: ...l 90 000 00 Enter annual Interest rate 8 8 00 Enter Term in years 3 0 T 30 00 Find monthly P I Payment p run 660 39 Enter Year 1 1 a run 1 12 Find total interest in Year 1 a 7 172 83 Find total princ...

Page 40: ...calculator o o 0 00 Set Month Offset to May 5 s 5 00 Enter Loan Amount 9 0 l 90 000 00 Enter annual Interest rate 8 8 00 Enter Term in years 3 0 T 30 00 Find monthly P I Payment p run 660 39 Enter Ye...

Page 41: ...ind remaining balance after Payment 1 a 174 852 25 Find remaining term after Payment 1 a 29 92 Find mortgage interest deduction in Payment 1 a 279 71 Display Payment 2 a run 2 2 etc sequence repeats f...

Page 42: ...pal and interest a 14 020 69 Find remaining balance a 223 428 44 Find remaining term a 29 25 Find mortgage interest deduction for Payments 1 9 a 3 485 76 DO NOT CLEAR CALCULATOR Amortization List for...

Page 43: ...oan a third press calculates the total interest paid a fourth press shows the total principal paid and a fifth press shows the total P I Payments Press the p key to find the Bi Weekly pay ment Bi Week...

Page 44: ...yment mode by pressing o twice Future Value Given any four components to a problem that includes a future value you can calculate the fifth Appreciation Future Value You purchased a home for 350 000 a...

Page 45: ...n t enter 1 2 s If you need to set the calculator to compounded interest other than monthly enter the number of periods then s e g for interest com pounded quarterly enter 4 s Retirement Savings Futur...

Page 46: ...esidential real estate loans are based on a monthly payment schedule However if you have a non monthly loan you must change the number of payments per year using a two key sequence s For example here...

Page 47: ...price or present value use the l key Purchase Price of a Note Fully Amortized The mortgage you are thinking about buying has the following terms and conditions 15 years remaining 100 per month incomi...

Page 48: ...YSTROKES DISPLAY Clear calculator o o 0 00 Enter future value of note when due 7 5 0 0 s l 7 500 00 Enter purchase price 6 5 0 0 l 6 500 00 Enter remaining Term mths 6 0 s b T 60 00 Enter Payment amou...

Page 49: ...thly Payment 9 3 7 5 p 937 50 Enter Term in years 7 T 7 00 Enter annual Interest rate 1 1 11 00 Calculate remaining balance s l 43 576 27 DO NOT CLEAR CALCULATOR What should you pay for this trust dee...

Page 50: ...on as calculations are based on 360 days per year Finding APR and Total Finance Charges You are financing a mortgage of 250 000 for 30 years at a nominal or quoted rate of 8 interest The cost of getti...

Page 51: ...of 1st payment 8 1 0 3 7 2 1 0 3 11 00 Find the prepaid interest due at closing s 252 08 Note This is based on a 360 day year as most banks use this method for comput ing prepaid interest DO NOT CLEA...

Page 52: ...tered on an annual basis although you can also enter a 6 month adjustment term as 5 This value is permanently stored in memory 3 After performing an ARM calculation your permanently stored values for...

Page 53: ...r calculator o o 0 00 Enter Loan Amount 1 7 6 l 176 000 00 Enter Term in years 3 0 T 30 00 Enter annual Interest rate 8 2 5 8 25 Find initial monthly P I Payment 1st year p run 1 322 23 Enter ARM para...

Page 54: ...nt A 1 ARM 1 445 79 Find 2nd adjusted 3rd year ARM payment A 2 ARM 1 570 86 Find 3rd adjusted 4th year ARM payment A 3 ARM 1 697 07 Find 4th adjusted 5th year ARM payment A 4 ARM 1 824 09 Find 5th adj...

Page 55: ...Find 1st lower ARM payment A 1 ARM 1 197 01 Find 2nd lower ARM payment A 2 ARM 1 064 20 For second and third year payments Increasing and Decreasing ARM Payment Find the ARM payments for a 300 000 30...

Page 56: ...SPLAY Clear calculator o o 0 00 Enter Term in years 3 0 T 30 00 Enter annual Interest rate 8 8 00 Enter annual property tax 1 5 0 0 s 7 1 500 00 Enter annual property ins 2 5 0 s 8 250 00 Enter Loan A...

Page 57: ...client is in the 28 tax bracket STEPS KEYSTROKES DISPLAY Clear calculator o o 0 00 Enter annual Interest rate 7 5 7 50 Enter Term in years 3 0 T 30 00 Enter Down Payment 1 0 d 10 00 Enter tax bracket...

Page 58: ...In other words they deliver a variety of answers based on what is input and what is not The calculator will figure out which qualifying solutions should be displayed based on the qualifying variables...

Page 59: ...eference Settings See page 22 5 When calculating Annual Income Required based on entered loan amount or sales price term interest and stored qualifying ratios the first press of q or Q will display yo...

Page 60: ...call Qualifying Ratios 2 Q 29 00 41 00 Storing New Income Debt Qualifying Ratios Enter and permanently store new qualifying ratios of 30 for Income and 38 for Debt in q STEPS KEYSTROKES DISPLAY Clear...

Page 61: ...rate 7 5 7 50 Clear property tax rate 0 s 7 0 00 Clear insurance rate 0 s 8 0 00 Enter annual Income 7 5 i 75 000 00 Enter monthly Debt 5 0 0 D 500 00 Enter Down Payment 3 5 d 35 000 00 Display Qualif...

Page 62: ...ues please re enter them STEPS KEYSTROKES DISPLAY Clear calculator o o 0 00 Enter annual Income 7 5 i 75 000 00 Enter monthly Debt 5 0 0 D 500 00 Enter Down Payment 5 d 5 000 00 Enter property tax rat...

Page 63: ...YSTROKES DISPLAY Clear calculator o o 0 00 Recall annual Interest rate 7 50 Recall Term in years T 30 00 Recall property tax rate 7 1 50 Recall property insurance rate 8 0 25 Re enter mortgage insuran...

Page 64: ...allowable debt STEPS KEYSTROKES DISPLAY Find actual Ratios q run 22 76 36 00 Find unrestricted Loan Amount q UNR 170 870 75 LA INC Find maximum allowable monthly Debt q 453 33 Note The INC tells you t...

Page 65: ...ciation dues 5 0 e 50 00 Enter annual Interest rate 6 2 5 6 25 Enter Term in years 3 0 T 30 00 Enter property tax rate 1 2 5 s 7 1 25 Enter property insurance rate 3 s 8 0 30 Enter mortgage insurance...

Page 66: ...nce rate to zero as they are put ting 20 down STEPS KEYSTROKES DISPLAY Clear calculator o o 0 00 Enter annual Iinterest rate 6 7 5 6 75 Enter Term in years 3 0 T 30 00 Enter tax rate 1 5 s 7 1 50 Ente...

Page 67: ...l Interest rate 6 5 6 50 Enter Term in years 3 0 T 30 00 Enter Loan Amount 2 7 5 l 275 000 00 Enter Down Payment 6 8 7 5 0 d 68 750 00 Enter annual Income 1 2 0 i 120 000 00 Enter monthly Debt 5 5 0 D...

Page 68: ...r entry of appropriate loan variables including 1st and 2nd TD interest and term the following loan val ues for 80 10 10 and 80 15 5 or any LTV loans Blended interest rate for 1st and 2nd TD and equiv...

Page 69: ...I 5 LTV 90 80 10 STEPS KEYSTROKES DISPLAY 1 Enter Fixed Rate Loan Values and Find Total Payment Clear calculator o o 0 00 Enter Loan Amount 1 0 0 l 100 000 00 Enter Down Payment 1 0 d 10 00 Enter annu...

Page 70: ...ngle fixed rate loan with MI run 7 61 Find total combined 1st 2nd payment 680 78 Find equivalent payment of single fixed rate loan with MI 706 97 Find monthly savings over fixed rate loan with MI 26 1...

Page 71: ...I 5 LTV 95 80 15 STEPS KEYSTROKES DISPLAY 1 Enter Fixed Rate Loan Values and Find Total Payment Clear calculator o o 0 00 Enter Loan Amount 1 0 0 l 100 000 00 Enter Down Payment 5 d 5 00 Enter annual...

Page 72: ...fixed rate loan with MI run 7 61 Find total combined 1st 2nd payment 687 30 Find equivalent payment of single fixed rate loan with MI 706 97 Find monthly savings over fixed rate loan with MI 19 67 Fi...

Page 73: ...YSTROKES DISPLAY 1 Enter Fixed Rate Loan Values and Find Total Payment Clear calculator o o 0 00 Enter Loan Amount 1 0 0 l 100 000 00 Enter Down Payment 5 d 5 00 Enter annual Interest rate 7 7 00 Ente...

Page 74: ...ind equivalent payment of fixed rate loan with MI 706 97 Find monthly savings over fixed rate loan with MI 34 33 Find adjusted 2nd term if savings applied to 2nd TD run 8 06 Find 1st TD loan amount 94...

Page 75: ...loan to a combo loan you must first calculate the monthly MI premium and enter it as mortgage insurance as you would a standard fixed rate loan do not add the Financed MI Premium to the loan amount in...

Page 76: ...hen compared to the Combo loan with a monthly savings of 10 08 DO NOT CLEAR CALCULATOR What happens if you compared to a 20 year 2nd Trust Deed at a rate of 8 Typically the monthly payment savings wil...

Page 77: ...st Cash Flow is assumed to be the initial investment the frequency remains at one and cannot be changed Frequencies are numbered similar to Cash Flows F 1 through F 19 Frequencies are entered via s c...

Page 78: ...ou wish to skip directly to the NPV calculation press s R The desired Rate of Return is entered prior to performing the calcu lation as shown in the following examples or can be stored in the key If a...

Page 79: ...nts per year to one 1 s 1 00 Enter initial investment as a negative entry indicating a Cash outlay 2 2 5 s c C 0 225 000 00 Enter 1st Cash Flow value 1 6 c C 1 16 000 00 Enter 2nd Cash Flow 1 6 6 0 0...

Page 80: ...C 0 225 000 00 Enter 1st Cash Flow value 1 c C 1 1 000 00 Enter 1st Cash Flow frequency 1 2 s c F 1 12 00 Enter 2nd Cash Flow value 1 1 0 0 c C 2 1 100 00 Enter 2nd Cash Flow frequency 1 2 s c F 2 12...

Page 81: ...Cash Flow 2 c C 2 1 100 00 Replace with new Cash Flow value of 1 150 1 1 5 0 s c C 2 1 150 00 DO NOT CLEAR CASH FLOWS Recalling and Replacing Cash Flow Frequencies STEPS KEYSTROKES DISPLAY 1 Recall t...

Page 82: ...f the O key to perform a total reset It is recommended you use a straightened paper clip as the hole is extremely small Keystroke Reset Returning the Calculator to its Original Factory Settings You ma...

Page 83: ...ies are available at most discount or electronics stores You may also call Calculated Industries at 1 775 885 4975 Battery Replacement Instructions Qualifier Plus IIIFX 3430 To replace the batteries s...

Page 84: ...air Service U S A Calculated Industries CI warrants this product against defects in materi als and workmanship for a period of one 1 year from the date of original consumer purchase in the U S If a de...

Page 85: ...PRODUCT S QUALITY PERFOR MANCE MERCHANTABILITY OR FITNESS FOR A PARTICULAR PUR POSE AS A RESULT THIS PRODUCT INCLUDING BUT NOT LIMITED TO KEYSTROKE PROCEDURES MATHEMATICAL ACCURACY AND PREPROGRAMMED...

Page 86: ...gistered trade marks of Calculated Industries Inc ALL RIGHTS RESERVED Looking For New Ideas Calculated Industries a leading manufacturer of special function calculators and digital measuring instrumen...

Page 87: ...Loan 80 10 10 vs Fixed Rate Loan with Mortgage Insurance 68 Combo Loan 80 15 5 vs Fixed Rate Loan with Mortgage Insurance 70 Combo Loan Entering New LTV 72 Date Examples 20 Decimal Place Selection 21...

Page 88: ...vs Buy Keys 12 Repair and Return 83 Reset 81 Restricted Qualifying 62 Retirement Savings Future Value of Monthly Investment Using Beginning Mode 44 Retirement Savings Account Problem Future Value of a...

Page 89: ...Designed in the United States of America Printed in China 8 07 UG3430E E...

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