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Created specifically for residential real
estate professionals, the enhanced

Qualifier Plus IIcx

is the simplest calcu-

lator ever made for residential real estate
financing. With the press of a few but-
tons, it solves hundreds of real estate
problems.

◆

3–way Mortgage Qualifying

◆

Instant P&I and PITH Payments

◆

Loan/Mortgage Amounts

◆

Tax and Insurance Capabilities

◆

Interest Rates & Terms for both

Canada and the U.S.

◆

Built–in Sales Price and Down

Payment

◆

Complete Amortization

◆

Remaining Balances/Balloon

Payments

◆

Date Math Functions

◆

Future Value and Appreciation

◆

Yields/Prices on Trust Deeds & Notes

◆

Loan Start Month Other than January

NTRODUCING

UALIFIER

LUS

User’s Guide — 3

Содержание Qualifier Plus IIcx

Страница 1: ...QUALIFIER PLUS IICX For the Real Estate Professional User s Guide...

Страница 2: ...yment 20 Taxes Insurance PITH Payment 21 Amortization Remaining Balance26 Future Value 33 Trust Deeds Discounted Notes 34 APR Total Finance Charges 36 Qualifying 38 U S Mode Only Functions 51 Odd Days...

Страница 3: ...ate problems 3 way Mortgage Qualifying Instant P I and PITH Payments Loan Mortgage Amounts Tax and Insurance Capabilities Interest Rates Terms for both Canada and the U S Built in Sales Price and Down...

Страница 4: ...lears temporary registers Four function x percent key M Adds displayed value to Memory Pressing Set M will subtract the dis played value from Memory See Memory Functions Rcl Recalls and displays the c...

Страница 5: ...on the Loan Amount and Down Payment Note Entered Sales Price values will not normally change L A Loan Amount Enters or solves for the initial loan amount or present value of a financial problem Pmt P...

Страница 6: ...ves for the future value of a financial problem Amort Amortization Finds total interest princi pal and remaining balance First press enters or shows range of periods Second press shows total interest...

Страница 7: ...Tax Stores and recalls annual property tax in either percent or dollar amount Repeated presses toggle between percent and dollar values Values of 10 or less are assumed to be annual percentages Comput...

Страница 8: ...the buyer s actual ratios with the third press The fourth press displays the stored GDSR TDSR ratios Set Change Sign Toggles the sign of a dis played value Set Month Offset Used to set the first month...

Страница 9: ...Pressing Set ARM adjusts the rate up or down to show future payments ARM rates are stored permanently Set Lifetime Interest Cap ARMs Permanently sets the lifetime interest cap for ARMs by entering th...

Страница 10: ...se Decrease Changes ARM function from increasing to decreasing rate Qualifying Keys Plus Model Only Qual 1 A multifunction key which performs the following qualifying functions 1 Stores a GDSR TDSR Ra...

Страница 11: ...using expenses i e monthly heating expense homeowners association dues maintenance and utilities Mtg Ins Mortgage Insurance Stores and recalls annual mortgage insurance i e Private Mortgage Insurance...

Страница 12: ...places you wish to display Set 3 0 000 Set 2 0 00 Default Set 1 0 0 Set 0 0 Set Floating Decimal Note To return to the standard two dec imal place setting press Set 2 Basic Math Both calculators use s...

Страница 13: ...key adds the dis played value to Memory Set M sub tracts the displayed value from Memory Rcl M recalls and displays the total value in Memory Rcl Rcl displays and clears the Memory Set Rcl clears Mem...

Страница 14: ...to a date to find a future date 2 subtract a number of days from a date to find a past date and 3 subtract one date from another date to find the number of days in between Find the number of days to...

Страница 15: ...d Interest are per manently stored in memory 4 Always press On C twice after com pleting a financial problem to ensure the financial registers are cleared 5 When solving for a financial compo nent the...

Страница 16: ...ly payment 25 Term 25 00 7 75 Int CdA 7 75 Pmt run 713 69 Finding a Term of a Loan How long does it take to pay off a loan of 15 000 at 10 interest if you make payments of 181 01 each month Steps Keys...

Страница 17: ...nterest and peri odic rate 98 500 L A 98 500 00 25 Term 25 00 1 150 Pmt 1 150 00 Int run CdA 13 91 Int CdA 1 16 Finding a Loan Amount How much can you borrow if the cur rent interest rate is 9 75 on a...

Страница 18: ...ay 1 Clear calculator On C On C 0 00 2 Enter number of payments per year 4 Set Pmt Yr 4 00 To recall the currently stored number of payments press Rcl Steps Keystrokes Display 1 Clear calculator On C...

Страница 19: ...Keystrokes Display 1 Clear calculator On C On C 0 00 2 Set to 4 payments per year 4 Set Pmt Yr 4 00 3 Enter loan amount 15 000 L A 15 000 00 4 Enter term in years 10 Term 10 00 5 Enter annual interes...

Страница 20: ...you enter a new Sales Price or precede a Down Payment or Loan Amount entry with Set Finding L A Based on Sales Price Down Pmt Find the loan amount and dollar down payment if the Sales Price is 175 000...

Страница 21: ...00 Price 156 250 00 4 Enter term and interest then find monthly payment 25 Term 25 00 9 Int CdA 9 00 Pmt run 1 034 97 Taxes Insurance PITH Payment Your calculator will temporarily store Property Tax P...

Страница 22: ...gage Insurance rate is based on the Loan Amount If neither Sales Price nor Down Payment has been entered the Sales Price defaults to equal the Loan Amount i e assuming a 100 loan in which case the Tax...

Страница 23: ...ps Keystrokes Display 1 Recall Tax rate and Insurance rate Rcl Tax 1 00 Rcl Ins 0 25 2 Recall Mortgage Insurance rate Rcl Mtg Ins 0 15 Note Pressing On C On C will set Tax Ins and Mtg Ins registers to...

Страница 24: ...expense of 80 Steps Keystrokes Display 1 Clear calculator On C On C 0 00 2 Set Tax rate 1 Tax 1 00 3 Set Insurance rate 25 Ins 0 25 4 Enter monthly heating expense 80 Exp 80 00 5 Enter annual interest...

Страница 25: ...ly heating expense of 100 Steps Keystrokes Display 1 Clear calculator On C On C 0 00 2 Set Tax figure 1 200 Tax 1 200 00 3 Set Insurance figure 350 Ins 350 00 4 Enter monthly heating expense 100 Exp 1...

Страница 26: ...ge each time 2 You can find Remaining Balance by entering a year or range of years period or range of periods then pressing Set Amort i e to find the remaining balance after the 10th year press 10 Set...

Страница 27: ...n January reset the Month Offset value to calculate the correct number of periods in the amortization range To change this setting press the month number then Set For example if the first payment begi...

Страница 28: ...1 Turn calculator off then back on Off On C CdA 0 00 2 Enter loan amount interest term then find monthly payment 200 000 L A 200 000 00 9 25 Int CdA 9 25 25 Term 25 00 Pmt run 1 688 90 3 Find total n...

Страница 29: ...trokes Display 1 Clear calculator On C On C 0 00 2 Set Month Offset to May 5 Set 5 00 3 Enter loan amount interest and term then find the monthly payment 90 000 L A 90 000 00 8 Int CdA 8 00 25 Term 25...

Страница 30: ...or Off On C CdA 0 00 2 Enter loan amount interest term and find monthly payment 175 000 L A 175 000 00 9 25 Int CdA 9 25 25 Term 25 00 Pmt run 1 477 79 3 Display 1st payment period 1 Per Amort run 1 1...

Страница 31: ...ar calculator Off On C CdA 0 00 2 Enter loan amount 125 000 L A 125 000 00 3 Enter interest term and find monthly payment 10 25 Int CdA 10 25 25 Term 25 00 Pmt run 1 139 20 4 Enter payment periods 1 9...

Страница 32: ...nd payable after 10 years What is the balloon payment remaining balance after 10 years Steps Keystrokes Display 1 Clear calculator On C On C 0 00 2 Enter the loan amount 125 000 L A 125 000 00 3 Enter...

Страница 33: ...periods to one per year and Simple Interest mode Steps Keystrokes Display 1 Set to Simple Interest Set 9 8 59 2 Clear calculator On C On C 0 00 3 Set to 1 payment per year 1 Set 1 00 4 Enter present v...

Страница 34: ...are thinking about buying has the following terms and con ditions 15 years remaining 100 per month in incoming payments and you want a 25 yield or return on your investment In this case you are paying...

Страница 35: ...you a note under the following terms 60 months remain ing on the term a face amount when due of 7 500 10 interest only payments of 62 50 incoming and he will sell the note for 6 500 if you buy today W...

Страница 36: ...hat is enter three known variables and solve for the fourth and 2 combine points and fees and press Set Int to solve APR Press Int a second time to display the total finance charges Press a third time...

Страница 37: ...ese costs are included Steps Keystrokes Display 1 Clear calculator On C On C 0 00 2 Enter loan amount interest and term then find monthly payment 50 000 L A 50 000 00 9 Int CdA 9 00 25 Term 25 00 Pmt...

Страница 38: ...ise 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 Qualify...

Страница 39: ...ncome Required The third press shows the Allowable Monthly Debt 2 When calculating buyer s Actual Ratios the first press of Qual 1 or Qual 2 displays the stored qualify ing ratios while the second pre...

Страница 40: ...s Recall stored ratios by pressing Rcl fol lowed by Qual 1 Steps Keystrokes Display 1 Clear calculator On C On C 0 00 2 Recall qualifying ratios Rcl Qual 1 32 00 40 00 Qual Loan Amount Based on Income...

Страница 41: ...years annual interest and down payment 25 Term 25 00 8 5 Int CdA 8 50 35 000 Dn Pmt 35 000 00 4 Enter annual income and monthly debts 45 000 Inc 45 000 00 500 Debt 500 00 5 Display qualifying ratios a...

Страница 42: ...sed on Income Debt Buyers who make 68 000 annually with 750 in long term monthly debts wish to buy a home offered at 200 000 For what loan amount can they qualify Use previously stored interest term a...

Страница 43: ...s it based on i e buyer s income or debt What are the buyer s actual GDSR and TDSR ratios Steps Keystrokes Display 1 Find nonrestrictive loan amount Qual 1 run 227 987 99 LA INC 2 Find actual ratios Q...

Страница 44: ...estrictive loan amount Qual 1 run 227 987 99 INC 4 Display actual qualifying ratios Qual 1 26 76 40 00 5 Display stored ratios Qual 1 32 00 40 00 DO NOT CLEAR THE CALCULATOR Continuing on how much mon...

Страница 45: ...ing 68 000 annually with 750 in monthly debts now wish to buy a lower priced home and are willing to put 20 000 down If you include estimated annual property taxes of 1 an insurance of 0 5 and monthly...

Страница 46: ...Display qualifying ratios Qual 1 32 40 7 Find qualifying loan amount Qual 1 run 156 641 01 8 Find Price Price 176 641 01 DO NOT CLEAR THE CALCULATOR Now find the monthly payment and PITH payment based...

Страница 47: ...can he qual ify for if using 32 40 ratios What size government loan if using 29 41 ratios Use Qual 1 for conventional qualifying Qual 2 for government qualifying Find the monthly payment for each Ste...

Страница 48: ...Qual 1 P I payment then total payment Pmt 650 00 Pmt 700 00 DO NOT CLEAR THE CALCULATOR Steps Keystrokes Display 1 Find Qual 2 stored ratios Qual 2 29 00 41 00 2 Find Qual 2 qualifying loan amount Qu...

Страница 49: ...okes Display 1 Clear calculator On C On C 0 00 2 Enter annual interest 8 Int CdA 8 00 3 Enter term in years then enter sales price 25 Term 25 00 245 000 Price 245 000 00 4 Enter down payment percent a...

Страница 50: ...be Use 10 interest for 25 years Steps Keystrokes Display 1 Clear calculator On C On C 0 00 2 Enter interest term loan amount and annual income 10 Int CdA 10 00 25 Term 25 00 150 000 L A 150 000 00 85...

Страница 51: ...ing for odd days interest you must enter the following 1 the loan amount 2 the annual interest and 3 the number of days from escrow closing to the date of the first payment Finding ODI and APR Find th...

Страница 52: ...THE CALCULATOR Add the prepaid interest to the loan s points and fees if they are equal to 1 5 and 500 respectively Then find the Annual Percentage Rate APR based on these closing costs Steps Keystro...

Страница 53: ...y off time Bi Weekly Term Reduction Payment Find the initial monthly payment on a 30 year 76 500 mortgage at a 10 25 annual interest rate Next convert it to a bi weekly and calculate the number of yea...

Страница 54: ...loan The ARM function is only used for adjusted periods 2 The split Interest Term Adjustment entry for ARM should always be entered on an annual basis This value is permanently stored in memory 3 Afte...

Страница 55: ...g 1 after six months then decreasing to 1 5 after an additional 12 months Steps Keystrokes Display 1 Clear calculator On C On C 0 00 2 Enter loan amount term in years and annual interest then find ini...

Страница 56: ...t rate Steps Keystrokes Display 1 Clear calculator On C On C 0 00 2 Enter loan amount term and annual interest 176 000 L A 176 000 00 30 Term 30 00 8 25 Int 8 25 3 Find initial monthly payment Pmt run...

Страница 57: ...the initial monthly pay ment 176 000 L A 176 000 00 30 Term 30 00 8 25 Int 8 25 Pmt run 1 322 23 3 Input interest cap 4 Set CAP 4 00 4 Enter ARM parameters then Find 1st 5th adjusted payment 1 1 ARM...

Страница 58: ...responding to the 5th and 6th years are the same because the lifetime cap was reached on the 4th adjustment An M for maximum displays when the Cap is reached Before starting a new ARM problem press 0...

Страница 59: ...lculator provides approximately 800 hours of actual use 1 year plus for most people If the display becomes weak or erratic replace the battery After 8 12 minutes of non use your calculator shuts itsel...

Страница 60: ...ED BY WAR RANTY INCLUDE BUT ARE NOT LIMITED TO BAT TERY LEAKAGE BENDING OR VISIBLE CRACKING OF THE LCD WHICH ARE PRESUMED TO BE DAM AGES RESULTING FROM MISUSE OR ABUSE To obtain warranty service ship...

Страница 61: ...oods purchased out side the U S contact the dealer through which you initially purchased the product If you cannot reasonably have the product repaired in your area you may contact CII to obtain curre...

Страница 62: ...l or consequential damages so the above limitation or exclusion may not apply to you This warranty gives you spe cific rights and you may also have other rights which vary from state to state FCC Clas...

Страница 63: ...II Headquarters User s Guide 63 Mail Calculated Industries Inc 4840 Hytech Drive Carson City NV 89706 USA Phone 1 775 885 4900 Fax 1 775 885 4949 Email techsup calculated com World Wide Web http www c...

Страница 64: ...ated Industries are registered trademarks of Calculated Industries Inc ALL RIGHTS RESERVED Designed in the United States of America by Calculated Industries Inc 2002 Calculated Industries Inc Printed...

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