Calculated Industries 3430 Manual de usuario

QUALIFIER PLUS®IIIFX

ADVANCED REAL ESTATE FINANCE

CALCULATOR with CASH FLOW

and COMPLETE BUYER QUALIFYING

Model 3430

Pocket Reference Guide

The QUALIFIER PLUS IIIFX lets you pre-qual-

ify clients and compute financial problems

with ease!

Quickly Solve:

• Time-Value-of-Money (TVM) Problems:

Find Loan Amount, Term, Interest,

Payment, Future Value

• Restricted/Unrestricted Qualifying

• Required Income/Debt

• Qualifying Using Flexible Ratios

• Property Tax and Insurance, Mortgage

Insurance

• P&I and PITI payment

• Sales Price and Down Payment

• Adjustable-Rate Mortgages

• Amortization and Remaining Balance

• Bi-Weekly Loans

• Date Math Problems

New!

• 80:10:10/80:15:5 Combo loans

• APR, including Mortgage Insurance

• Cash Flow/Investment Keys

• Income Tax Savings and Rent vs. Buy

• Interest-Only Payments

• LTV, Month Offset, Prepaid Interest

QUALIFIER PLUS®IIIFX

KEY DEFINITIONS..................................4

EXAMPLES ...........................................10

Date Example ....................................10

Monthly Mortgage (P&I) Payment .....10

Loan Amount......................................11

Loan Amount Based on Sales Price

and Down Payment.........................12

Interest Rate ......................................12

Term of a Loan ..................................13

Setting Tax and Insurance.................14

PITI Payment, Total Payment and

Interest-Only Payment.....................15

Quarterly Payment.............................16

Amortization.......................................17

Bi-Weekly Loans................................18

Appreciation.......................................19

Retirement Savings ...........................20

APR and Total Finance Charges,

Including Mortgage Insurance.........21

ARM Payment — Lifetime Cap .........22

Estimated Tax Savings ......................24

Rent vs. Buy ......................................25

Setting Qualifying Ratios ...................26

Qualifying Loan Amount ....................26

“Restricted” vs. “Unrestricted”

Qualifying.........................................28

TABLE OF CONTENTS

Qualifying Comparison (2 Ratios at

Once)...............................................31

Income Required and Allowable

Monthly Debt ...................................33

80:10:10 Combo Loan vs. Fixed-Rate

Loan with Mortgage Insurance........35

Cash Flow..........................................38

APPENDIX ............................................40

Default Settings .................................40

Decimal Place Setting .......................40

Preference Settings ...........................41

Batteries.............................................41

Reset .................................................41

POCKET REFERENCE GUIDE — 1

Note: This is a short “reference” guide. Please

see your Large User’s Guide for details.

:Colon separator (used for

date, ARM adjustment,

qualifying ratios and

combo loans)

bBackspace key; for back-

ing up/deleting wrong entry

®Recalls or re-displays a

value when followed by a

chosen key (e.g., ® ˆ

will display current interest

value)

μMemory Function:

- μAdds value on

display to Memory

- s μ Subtracts value

on display from Memory

- ® μ Recalls Memory

Total

- ® ® Recalls and

clears Memory Total

KEY DEFINITIONS

POCKET REFERENCE GUIDE — 2

sSets number of displayed

decimal places and acti-

vates 2nd functions

s – Change sign

s x Clear All (Note: perform

with caution as it will reset

calculator to defaults)

s = Preference mode (see

Large User’s Guide for

details)

s ÷ Payments per year

(Default 12, for monthly)

s b Periodic (sets per Period

rather than per Year)

s ) Month offset

s : Odd-days interest

s + Tax bracket %

s p Estimated income tax sav-

ings/after-tax payment

s P Rent vs. Buy

lLoan amount

pP&I, PITI, total payment,

and interest-only payment

POCKET REFERENCE GUIDE — 3

TNumber of years

ˆAnnual interest rate or

cash flow desired rate of

return

s l Future value

s ˆ APR (annual percentage

rate), including mortgage

insurance, if entered

PProperty price

dDown payment

s T Bi-Weekly loan

aAmortization function

s a Remaining balance

AAdjustable-rate mortgage

s A ARM decreasing interest

% adjustment

s % ARM lifetime interest cap%

qQualify based on

28%-36%

QQualify based on

29%-41%

iAnnual income

POCKET REFERENCE GUIDE — 4

DLong-term, monthly debt

(e.g., car payment)

s 7 Property tax (enter as per-

cent or dollar amount)

s 8 Property/homeowner’s

insurance (enter as per-

cent or dollar amount)

s 9 Mortgage insurance (enter

as percent or dollar amount)

eMonthly expenses (such

as homeowner’s associa-

tion dues)

s d For entering (or finding)

Loan-to-Value ratio and

computing respective

Down Payment and/or

Loan Amount

!Used to enter 1st TD

interest:term for Combo

Loans

s ! Used to enter 2nd TD

interest:term for Combo

Loans

POCKET REFERENCE GUIDE — 5

*Combo loan function for an

80:10:10 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 function for an

80:15:5 loan; same func-

tion as above key

cAllows entry of up to 20

cash flows. Use the s

–to label as positive or

negative

s c Frequency — labels a cash

flow that is consecutively

repeating

POCKET REFERENCE GUIDE — 6

RMulti-function key that

computes, upon consecu-

tive presses: IRR%, NPV

& NFV used for cash flow

analysis. (The greater the

IRR and NPV, the more

attractive the investment)

s 6 Clear cash flows

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