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OCKET

EFERENCE

UIDE

— 21

Rent vs. Buy

• Term: 30 years Property Tax: 1.25%
• Interest: 7.5%

Property Ins: 0.35%

• Down: 10%

Tax bracket: 30%

If your client is currently renting at
$1,250/month, find the comparable home
price, loan and estimated income tax sav-
ings (at 30% tax bracket).

STEPS

KEYSTROKES

DISPLAY

Clear

o o

0.00

Enter term

3 0 T

30.00

Enter interest

7 • 5 ˆ

7.50

Enter down

1 0 d

10.00

Enter tax%

1 • 2 5 t

1.25

Enter insurance%

• 3 5 I

0.35

Tax bracket

3 0 s +

30.00

Enter rent to find comparable

home price

1 2 5 0 s P

221,894.90

Find comparable loan

amount

199,705.41

Find PITI

payment

1,692.23

Find annual tax

savings

5,306.75

Monthly tax

savings

442.23

Reset tax

bracket

2 8 s +

28.00

3405PRG-E-B 1/9/04 8:45 AM Page 21

Содержание 3405

Страница 1: ...REAL ESTATE MASTER IIIX RESIDENTIAL REAL ESTATE FINANCE CALCULATOR Model 3405 Pocket Reference Guide...

Страница 2: ...mount Term Interest Payment Future Value Property Tax Homeowner s Insurance Mortgage Insurance P I PITI Interest Only Payments Sales Price and Down Payment Rent vs Buy Estimated Income Tax Savings Ded...

Страница 3: ...e of Escrow Closing 13 Monthly Mortgage P I Payment 14 Term of a Loan 14 Interest Rate 15 Loan Amount 15 Loan Amount Based on Sales Price and Down Payment 16 Loan to Value 16 Setting Tax and Insurance...

Страница 4: ...uding Mortgage Insurance 29 Prepaid Odd Days Interest and APR Including Mortgage Insurance 30 Appreciation Future Value 32 Bi Weekly Loans 33 80 10 10 Combo Loan vs Fixed Rate Loan with Mortgage Insur...

Страница 5: ...ry Recalls or re displays a value when followed by a chosen key e g will display current interest value Memory Function Adds value on dis play to Memory s Subtracts value on display from Memory Recall...

Страница 6: ...or details s Payments per year Default 12 for monthly s b Periodic identifies entry as periodic instead of yearly s Month offset s Odd days interest s Tax bracket s p Estimated tax savings after tax p...

Страница 7: ...e of property d Down payment s T Bi Weekly loan a Amortization function s a Remaining balance A Adjustable rate mortgage s A ARM decreasing interest adjustment s ARM lifetime interest cap t Property t...

Страница 8: ...as well as TVM values the second press of t I or press of s I I will compute the or third press finds monthly amounts s d For entering or finding Loan to Value ratio and computing respective Down Pay...

Страница 9: ...0 10 LTV loan calcu lates 1st 2nd TD values and compares them to entered fixed rate loan w mortgage insurance You may enter any LTV prior to pressing this key e g LTV of 90 5 enter 9 0 5 s Combo loan...

Страница 10: ...the key to back up Press any key to exit mode Press s and then 1st press of Decimal Places Off 0 00 returns to 2 decimal places Off Permanently holds decimal place setting 2nd press Payments Per Year...

Страница 11: ...MI or 5th press Amortization Display Range ENT ENT amortizes for entered year 1 ENT amortizes from beginning to entered year 6th press Qualifying Ratios Display at first press of q or Q keys Display a...

Страница 12: ...ar o o 0 00 Add 1st 1 5 0 0 M 1 500 00 Add 2nd 2 6 5 0 M 2 650 00 Find total M 4 150 00 Subtract 2 s M 2 000 00 Find total and clear Memory 2 150 00 Store 55 and multiply by 40 Then recall Memory Tota...

Страница 13: ...2 0 s 1 M 1 20 00 Store 3rd 3 0 s 2 M 2 30 00 Recall 1st 0 M 0 10 00 Repeat for 1 and 2 Clear All s x All Cleared 0 00 Note There are additional Storage Registers s 3 4 5 and 6 You cannot store more t...

Страница 14: ...ow listed at 346 000 STEPS KEYSTROKES DISPLAY Clear o o 0 00 Enter price 3 4 6 346 000 Subtract 5 5 17 300 00 Find new listing price 328 700 00 Date of Escrow Closing If a 45 day escrow begins June 15...

Страница 15: ...ter loan 2 6 5 l 265 000 00 Enter term 3 0 T 30 00 Enter interest 6 7 5 6 75 Find payment p 1 718 78 Term of a Loan How long does it take to pay off a loan of 15 000 at 10 interest if you make pay men...

Страница 16: ...1 5 0 p 1 150 00 Find annual interest 13 78 Find periodic interest 1 15 Loan Amount Approximately how much can you borrow if the interest rate is 6 5 on a 30 year loan and you can afford 1 500 in mont...

Страница 17: ...KES DISPLAY Clear o o 0 00 Enter price 3 7 5 5 0 0 P 375 500 00 Enter down 2 0 d 20 00 Find down d 75 100 00 Find loan l 300 400 00 You do not have to label the value as a percent Loan to Value Find t...

Страница 18: ...rate of 0 50 STEPS KEYSTROKES DISPLAY Set tax 1 5 t 1 50 Set insurance 2 5 I 0 25 Set mortgage insurance 5 0 s I 0 50 Note Do not label as a percent or use the key it is automatically registered as a...

Страница 19: ...YSTROKES DISPLAY Clear o o 0 00 Enter term 3 0 T 30 00 Enter interest 6 2 5 6 25 Enter price 3 2 5 P 325 000 00 Down 5 d 5 00 Set tax 1 3 t 1 30 Set insurance 2 5 I 0 25 Set MI 4 5 s I 0 45 Find loan...

Страница 20: ...ear loan of 15 000 with an annual interest rate of 12 STEPS KEYSTROKES DISPLAY Clear o o 0 00 Set to 4 payments per year 4 s 4 00 Enter loan 1 5 l 15 000 00 Enter term 1 0 T 10 00 Enter interest 1 2 1...

Страница 21: ...s estimated income tax savings and after tax payment STEPS KEYSTROKES DISPLAY Clear o o 0 00 Enter term 3 0 T 30 00 Enter interest 8 8 00 Enter tax 1 5 0 0 t 1 500 00 Enter insurance 2 5 0 I 250 00 E...

Страница 22: ...av ings at 30 tax bracket STEPS KEYSTROKES DISPLAY Clear o o 0 00 Enter term 3 0 T 30 00 Enter interest 7 5 7 50 Enter down 1 0 d 10 00 Enter tax 1 2 5 t 1 25 Enter insurance 3 5 I 0 35 Tax bracket 3...

Страница 23: ...t end of 1st year 3rd ARM adjustment increases 1 25 at end of 2nd year and continues to increase each year thereafter ARM Cap 4 Find ARM payments through year six STEPS KEYSTROKES DISPLAY Clear o o 0...

Страница 24: ...2 5 1 A 1 25 1 00 Find Year 3 adjusted increased payment A 1 1 202 78 Find Year 4 adjusted increased payment A 2 1 364 24 Find Year 5 adjusted increased payment A 3 1 530 54 Find Year 6 adjusted incr...

Страница 25: ...Clear o o 0 00 Enter loan 3 0 0 l 300 000 00 Enter interest 7 5 7 50 Enter term 3 0 T 30 00 Find payment p 2 097 64 Find payments a 1 360 Find total interest a 455 151 67 Find total principal a 300 00...

Страница 26: ...clude property tax Find all values for the second year STEPS KEYSTROKES DISPLAY Display Year 2 a 13 24 Find total interest a 22 191 53 Find total principal a 2 980 20 Find total payments a 25 171 72 F...

Страница 27: ...rtgage interest deduc tion for Year 1 if loan starts in March STEPS KEYSTROKES DISPLAY Clear o o 0 00 Set Month Start to March 3 s 3 00 Enter tax bracket 3 0 s 30 00 Enter loan 3 0 0 l 300 000 00 Ente...

Страница 28: ...play Year 2 a 11 22 Find total interest a 22 228 43 Note Keep pressing a for Year 3 4 etc With Next feature sequence automatically repeats for next year Return Month Offset to 1 1 s 1 00 Return tax br...

Страница 29: ...00 Term 30 years Interest 7 5 Find remaining balance after 10 years STEPS KEYSTROKES DISPLAY Clear o o 0 00 Enter loan 3 0 0 l 300 000 00 Enter interest 7 5 7 50 Enter term 3 0 T 30 00 Find payment p...

Страница 30: ...lear o o 0 00 Enter loan 2 5 0 l 250 000 00 Enter term 3 0 T 30 00 Enter interest 7 7 00 Find payment p 1 663 26 Enter MI 1 2 0 0 s I 1 200 00 Find Loan Costs Recall loan l 250 000 00 Find points x 1...

Страница 31: ...TROKES DISPLAY Clear o o 0 00 Enter loan 3 5 0 l 350 000 00 Enter term 3 0 T 30 00 Enter interest 6 6 00 Find P I payment p 2 098 43 Enter MI 2 2 0 0 s I 2 200 00 Find days between escrow closing and...

Страница 32: ...prepaid interest stored in memory 6 641 67 Find APR s 6 99 Find total charges 478 075 33 Amount financed 343 358 33 Total cost 821 433 66 P I payment 2 098 43 Monthly MI 183 33 PIMI payment 2 281 76...

Страница 33: ...e worth in 3 years figuring an inflation or appreciation rate of 6 STEPS KEYSTROKES DISPLAY Clear o o 0 00 Set to 1 payment per year 1 s 1 00 Enter PV 3 5 0 l 350 000 00 Enter term 3 T 3 00 Enter appr...

Страница 34: ...KES DISPLAY Clear o o 0 00 Enter loan 2 1 2 5 0 0 l 212 500 00 Enter term 3 0 T 30 00 Enter interest 7 8 5 7 85 Find P I payment p 1 537 09 Find Bi Weekly term s T 22 97 Find total interest savings T...

Страница 35: ...an vs a Fixed Rate loan w mortgage insurance The loan parameters are FIXED COMBO w PMI 1st 2nd Loan 250 000 250 000 Interest 6 50 6 00 8 50 Term 30 30 year 15 year PMI 0 62 LTV 95 80 10 STEPS KEYSTROK...

Страница 36: ...0 I 0 00 Solve for payment p 1 580 17 Solve for PITI including PMI p 1 709 34 2 Enter Combo Loan Values Enter 1st TD Interest and Term 6 3 0 6 00 30 00 Enter 2nd TD Interest and Term 8 5 1 5 s 8 50 15...

Страница 37: ...709 34 Display monthly savings over fixed rate loan with mortgage insurance 103 46 Display adjusted 2nd term if savings applied to 2nd TD 8 71 Find 1st TD loan amount 222 222 22 Find 2nd TD loan amoun...

Страница 38: ...e The loan parameters are FIXED COMBO w PMI 1st 2nd Loan 350 000 350 000 Interest 6 00 5 25 7 0 Term 30 30 year 15 year PMI 0 62 LTV 95 80 15 STEPS KEYSTROKES DISPLAY 1 Enter Fixed Rate Loan Values an...

Страница 39: ...om the last example as rates are already cleared 2 Enter Combo Loan Values Enter 1st TD Interest and Term 5 2 5 3 0 5 25 30 00 Enter 2nd TD Interest and Term 7 1 5 s 7 00 15 00 3 Find Combo Loan Value...

Страница 40: ...gs over fixed rate loan with mortgage insurance 154 99 Display adjusted 2nd term if savings applied to 2nd TD 9 78 Find 1st TD loan amount 294 736 84 Find 2nd TD loan amount 55 263 16 Find 1st TD paym...

Страница 41: ...ns Rates Not Permanently Stored Clears Upon O Mortgage Ins Rates Not Permanently Stored Clears upon o o Month Offset of January 1 Two Fixed Decimal Places Amortization Range Specified Year Ent Ent Dec...

Страница 42: ...r cal culator to its factory settings i e reset all registers and Preference Settings to their original default values To do this turn off the calculator hold down the x key and then turn it back on L...

Страница 43: ...ATED INDUSTRIES are registered trademarks of Calculated Industries Inc ALL RIGHTS RESERVED CALCULATED INDUSTRIES 4840 Hytech Drive Carson City NV 89706 U S A 1 800 854 8075 Fax 1 775 885 4949 E mail i...

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