Recalling Income/Debt Qualifying Ratios
Recall stored ratios:
Steps
Keystrokes
Display
Clear calculator
[On/C] [On/C]
0.00
Recall qualifying ratios
[Rcl] [Qual 1]
28.00 – 36.00
Qualifying Loan Amount Based on Income & Debts
Given an interest rate of 7.5%, a term of 30 years, and the
stored 28%:36% qualifying ratios, for what size loan and what
price house can a buyer qualify if he or she makes $45,000
annually and has $500 per month in long-term debts and plans
to put $35,000 down? (Assume no Tax and Insurance)
Be sure to check your stored tax and insurance rates before
completing any qualifying problems, especially if you are in
Pro-Mode where these values are stored permanently.
Steps
Keystrokes
Display
Clear calculator
[On/C] [On/C]
0.00
Recall tax rate
[Rcl] [Tax]
0.00
Recall insurance rate
[Rcl] [Ins]
0.00
Recall mortgage Ins. rate
[Rcl] [Mtg Ins]
0.00
Enter term in years
30 [Term]
30.00
Enter annual interest
7.5 [Int]
7.50
Enter down pmt
35,000 [Dn Pmt]
35,000.00
Enter annual income
45,000 [Inc]
45,000.00
Enter monthly debts
500 [Debt]
500.00
Display qual. ratios
[Qual 1]
28.00 – 36.00
Find qual. loan amt.
[Qual 1]
“run” 121,564.98
Find price
[Price]
156,564.98
Find mo. payment
[Pmt]
850.00
D O N O T C L E A R C A L C U L A T O R —
40 – Qualifier Plus
®
IIx DT
