3.
Find the Minimum Income Required
based on loan amount and other
entered values when income is zero.
4.
Find the Actual GDSR:TDSR Ratio
based on loan amount, income and
other entered values.
Pro–Mode
If in “Pro-Mode,” the order in which the
information displays will be different.
1. When calculating Annual Income
Required, the first press of
[Qual 1]
or
[Qual 2]
displays the stored ratios and
the second press displays the Annual
Income 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 press cal-
culates the buyer’s actual ratios.
3. The
[
Exp]
,
[Tax]
,
[Ins]
, and
[Mtg Ins]
keys may be used as optional variables
affecting the buyers’ qualifying (and
PITH payment). Taxes and Insurance
rates, if applicable, are computed from
the Sales Price. Mortgage Insurance is
computed from the Loan Amount.
Note:
All of the example problems in
this section are based on the default
GDSR and TDSR Ratios of 32% and
40%, respectively.
User’s Guide — 39
