Calculated-industries 3430 User Guide Manual do Utilizador

QUALIFIER PLUS®IIIFXADVANCED RESIDENTIAL REAL ESTATE FINANCE CALCULATORwith CASH FLOW and COMPLETE BUYER QUALIFYINGModel 3430 • Qualifier Plus®IIIFXMo

USER’S GUIDE — 9A Adjustable Rate Mortgage — Calculates the pay-ment and re-amortizes a fully or partially amortizedAdjustable Rate Mortgage based on

10 — QUALIFIER PLUS®IIIFXTax, Insurance and Expense KeysIn addition to Qualifying, the following keys are also involved in PITIor total payment calcul

USER’S GUIDE — 11(Cont’d)Note: Entering a number equal to or less than 10 is assumed tobe an annual percent. Mortgage insurance is calculated from the

12 — QUALIFIER PLUS®IIIFXRent vs. Buy Keyss P Rent vs. Buy — Calculates a comparable salesprice, loan amount, and mortgage payment versusthe cost of m

USER’S GUIDE — 13(Cont’d)DEBT RATIO =TOTAL HOUSING EXPENSE + MO. DEBTGROSS MONTHLY INCOMENote: Typically, when figuring government loans (FHA/VA), the

14 — QUALIFIER PLUS®IIIFX(Cont’d)*Note: The Maximum Qualifying Loan Amount is the “restricted”loan amount the buyer may qualify for. This loan amount

USER’S GUIDE — 151st & 2nd Trust Deeds (Combo Loan) Keys The Combo Loan keys show the savings of obtaining a 1st and 2ndtrust deed (TD) loan over

16 — QUALIFIER PLUS®IIIFX(Cont’d)Press Display or Calculation1 Combo Loan Combined (Blended) InterestRate2 Equivalent Interest Rate of Fixed Rate Mort

USER’S GUIDE — 17s c Frequency (Freq) —The second function of this keylabels a cash flow that is repeated consecutively, orgrouped (e.g., if a cash fl

18 — QUALIFIER PLUS®IIIFXBASIC ARITHMETIC EXAMPLESArithmeticThis calculator uses standard chaining logic, which simply meansthat you enter your first

USER’S GUIDE — 1The new QUALIFIER PLUS IIIFX was custom-designed for mortgagelenders and residential real estate pro’s. With the push of a few but-ton

USER’S GUIDE — 19Reduction in Listing Price (Discount %)A nervous seller has had her property on the market for just overfour months listed at $175,50

20 — QUALIFIER PLUS®IIIFXDate ExamplesUsing the : key, you can quickly solve common real estate dateproblems: escrow or closing dates, listing expirat

USER’S GUIDE — 21CALCULATOR SETTINGSDecimal Place SelectionWith the s key, you have the option of selecting the number ofdecimal places you’d like to

22 — QUALIFIER PLUS®IIIFXPreference SettingsYour calculator has a Preference Mode, which allows you to programthe calculator to various settings. For

USER’S GUIDE — 23(Cont’d)After s,Keep DescriptionPressing (Press + to Advance =: Display within each category, – to Back up):4 Mortgage Insurance (MI)

24 — QUALIFIER PLUS®IIIFXMEMORYAccumulative MemoryWhenever the μ key is pressed, the displayed value will be addedto cumulative Memory. This value wil

USER’S GUIDE — 25Memory Storage Keys (M0-M5)In addition to the standard cumulative Memory (as described above),your calculator has six independent Sto

26 — QUALIFIER PLUS®IIIFXAdditional Memory Storage Keys (M10-M19)In addition to M0-M5 (as described previously), your calculator hasten additional ind

USER’S GUIDE — 27MORTGAGE LOANS/TIME-VALUE-OF-MONEY (TVM)1. The basic loan keys — l, p, T and ˆ — work just likeyou would say them. For example, if yo

28 — QUALIFIER PLUS®IIIFXFinding the Monthly Mortgage (P&I) Payment Find the monthly P&I (principal and interest) payment on a 30-year,fixed-r

2— QUALIFIER PLUS®IIIFXGETTING STARTED...5KEY DEFINITIONS ...

USER’S GUIDE — 29Finding the Term of a Loan How long does it take to pay off a loan of $15,000 at 10% interest ifyou make payments of $200 each month?

30 — QUALIFIER PLUS®IIIFXSimple Interest vs. Compound Interest If you borrow $5,000 at 6% simple interest, how much will you oweat the end of 5 years?

USER’S GUIDE — 31Taxes and Insurance This calculator has keys that store your estimated local annualProperty Tax, Property Insurance, and Mortgage In

32 — QUALIFIER PLUS®IIIFXSetting Tax and Insurance Percent RatesEnter an annual property tax rate of 1.5%, a property insurance rateof 0.25%, and a mo

USER’S GUIDE — 33Calculating Tax and Insurance Percent or Dollar If loan variables are entered in addition to tax and insurance per-centage rates or d

34 — QUALIFIER PLUS®IIIFXPITI Payment (Tax and Insurance Entered as %)Find the monthly PITI payment on a 30-year, 6.5% mortgage if thehome’s selling p

USER’S GUIDE — 35Amortization and Remaining BalanceThe amortization function is quick and simple. It allows you to findtotal interest, principal, and

36 — QUALIFIER PLUS®IIIFX(Cont’d)6. If the first payment of a loan begins in a month other thanJanuary, you can use the Month Offset function. The def

USER’S GUIDE — 37Total Principal and Interest for a 30-Year LoanHow much total interest will you pay on a $300,000 loan at 7.5%interest over 30 years?

38 — QUALIFIER PLUS®IIIFXAmortization List for Individual Year(s) — Using “Next” FeatureHow much total interest and principal will you pay on a 30-yea

USER’S GUIDE — 3Total Payment (Including Expenses) and Interest-OnlyPayment...

USER’S GUIDE — 39Amortization List for Individual Year(s) — Using Month OffsetThe first payment of a loan begins in May. How much total interestand pr

40 — QUALIFIER PLUS®IIIFXAmortization List for Individual Payment(s)For a $175,000 loan at 6.85% interest for 30 years, find out howmuch interest and

USER’S GUIDE — 41Amortization List for a Range of Payments For a $225,000, 30-year loan at 7.4% interest, find how much inter-est and principal you&ap

42 — QUALIFIER PLUS®IIIFXBi-Weekly Loans Your calculator includes a Bi-Weekly loan function (s T) whichallows you to convert established, fully amorti

USER’S GUIDE — 43(Cont’d)Now Solve for the Bi-Weekly Loan and Compare Interest Savingsand Total Interest/Principal Paid:STEPS KEYSTROKES DISPLAYFind B

44 — QUALIFIER PLUS®IIIFXRetirement Savings Account Problem (Future Value of an InitialDeposit or Lump Sum)If you invest $50,000 today into an IRA wit

USER’S GUIDE — 45(Cont’d)Find future value in 30 years:STEPS KEYSTROKES DISPLAYEnter Term in years 3 0 T 30.00Recalculate value in 30 years s l -613,5

46 — QUALIFIER PLUS®IIIFXFinding a Quarterly PaymentFind the quarterly P&I payment on a ten-year loan of $15,000 withan annual interest rate of 12

USER’S GUIDE — 47Finding the Yield on a Discounted NoteAn individual wants to sell you a note under the following terms: 60months remaining in the ter

48 — QUALIFIER PLUS®IIIFXFinding the Value and Discount of a Trust DeedDetermine the value and discount required for a $75,000 mortgage,payable at $93

4— QUALIFIER PLUS®IIIFXQualifying Loan Amount and Sales Price (Complete ExampleIncluding Down Payment, Tax/Insurance, Monthly AssociationDues) ...

USER’S GUIDE — 49APR and Total Finance Charges Calculating the Annual Percentage Rate (APR) and Total FinanceCharges (TFC) is performed in two steps:

50 — QUALIFIER PLUS®IIIFXPrepaid/Odd-Days Interest and APR Find the monthly payment on a $100,000 loan at 8.25% annualinterest and 30-year term. Then,

USER’S GUIDE — 51Adjustable Rate Mortgages Using the A key, you can quickly find the “adjusted” (increasing ordecreasing) payments for future years on

52 — QUALIFIER PLUS®IIIFXARM Payment — Worst-Case ScenarioFind the initial monthly P&I payment on a 30-year, $176,000 mortgageat 8.25% annual inte

USER’S GUIDE — 53ARM Payment — Using Lifetime CapUsing the previous mortgage, add a lifetime cap of 4% and find theadjusted payments through year six.

54 — QUALIFIER PLUS®IIIFXDecreasing ARM Payment Calculate the initial monthly P&I payment on a 30-year, $250,000ARM loan at 5% interest, and then

USER’S GUIDE — 55Estimated Income Tax Savings and “After-Tax” Payment Important Note: This example estimates the annual tax savings(including property

56 — QUALIFIER PLUS®IIIFXRent vs. BuyIf your client is currently renting a home for $1,250/month, what isthe comparable home sales price and loan amou

USER’S GUIDE — 57BUYER PRE-QUALIFYINGThe Qualifying keys were designed specifically for mortgagelenders/brokers, for doing instant pre-qualifications

58 — QUALIFIER PLUS®IIIFX(Cont’d)4. When calculating Qualifying Loan Amount (based on enteredbuyer's data, term, interest and stored qualifying

USER’S GUIDE — 5KEY DEFINITIONSBasic Operation KeysO Turns all power off. The Memory and most financialregisters are cleared.o If off, turns power on.

USER’S GUIDE — 59QUALIFYING EXAMPLESMost of the examples in this section will be based on the defaultIncome and Debt Ratios of 28% and 36%, respective

60 — QUALIFIER PLUS®IIIFXFinding Qualifying Loan Amount and Sales Price (SimpleExample Excluding Tax/Insurance)Given an interest rate of 7.5%, a term

USER’S GUIDE — 61Qualifying Loan Amount and Sales Price (Complete ExampleIncluding Down Payment, Tax/Insurance, Monthly AssociationDues)The same buyer

62 — QUALIFIER PLUS®IIIFX“Restricted” QualifyingBuyers who make $68,000 annually and have $750 in long-termmonthly debt wish to buy a home offered at

USER’S GUIDE — 63(Cont’d)“Unrestricted” QualifyingThe amount calculated in the previous example is the loan they mayqualify for, based on current inco

64 — QUALIFIER PLUS®IIIFXQualifying Comparison (Comparing 2 Different Loans or Ratiosat Once)Given a buyer's annual income of $60,000, $500 in lo

USER’S GUIDE — 65Finding Income Required and Allowable Monthly DebtUsing the 28%:36% ratios, how much income would a buyer need tofinance a $250,000 h

66 — QUALIFIER PLUS®IIIFXSolving for Actual Qualifying RatiosA buyer who makes $120,000 annually and has $550 in long-termmonthly debt wants to borrow

USER’S GUIDE — 671ST AND 2ND TRUST DEEDS (COMBO LOANS) Your calculator also figures Combo loans, or 1st and 2nd TrustDeeds, which are common financing

68 — QUALIFIER PLUS®IIIFXCombo Loan (80:10:10) vs. Fixed-Rate Loan with MortgageInsuranceYou’d like to show your client the savings of a fixed-rate Co

6— QUALIFIER PLUS®IIIFXs – Change Sign (+/–) — Changes the sign of the dis-played value from positive to negative or vice versa.s x Clear All — Clears

USER’S GUIDE — 69(Cont’d)STEPS KEYSTROKES DISPLAY3. Find 80:10:10 Combo Loan and Comparison Values (vs. Fixed-Rate Loan with Mortgage Insurance): Find

70 — QUALIFIER PLUS®IIIFXCombo Loan (80:15:5) vs. Fixed-Rate Loan with MortgageInsuranceYou’d like to show your client the savings of a fixed-rate Com

USER’S GUIDE — 71(Cont’d)STEPS KEYSTROKES DISPLAY3. Find 80:15:5 Combo Loan and Comparison Values (vs. Fixed-Rate Loan with Mortgage Insurance): Find

72 — QUALIFIER PLUS®IIIFXCombo Loan — Entering a New LTVYou’d like to show your client the savings of a fixed-rate ComboLoan (90:5:5) over that of a s

USER’S GUIDE — 73(Cont’d)STEPS KEYSTROKES DISPLAY3. Find 90:5:5 Combo Loan and Comparison Values (vs. Fixed-RateLoan with Mortgage Insurance): Enter L

74 — QUALIFIER PLUS®IIIFXFinance Mortgage Insurance compared to a Combo LoanFinanced Mortgage Insurance loans allow for higher than 80% LTVon a straig

USER’S GUIDE — 75(Cont’d)STEPS KEYSTROKES DISPLAY4. Enter Combo Loan Values:Enter 1st TDInterest:Term 6 : 3 0 ! 6.00-30.00Enter 2nd TDInterest:Term

76 — QUALIFIER PLUS®IIIFXCASH FLOW EXAMPLESYour calculator has easy-to-use cash flow keys for performing realestate investment, or cash flow analysis.

USER’S GUIDE — 77IRR, NPV, and NFV FunctionsThe R key is multifunctional, and consecutive presses calculate:• the annual Internal Rate of Return (IRR%

78 — QUALIFIER PLUS®IIIFXCalculating IRR, NPV, and NFV for Annual Cash FlowsA real estate investor wishes to purchase/finance a piece of propertyfor $

USER’S GUIDE — 7ˆ Interest — Enters or solves for the annual interestrate. Second press gives the periodic rate.Note: Stored permanently, until you ch

USER’S GUIDE — 79Calculating IRR, NPV, and NFV for Monthly Cash Flows A real estate investor wishes to purchase/finance a piece of propertyfor $225,00

80 — QUALIFIER PLUS®IIIFX(Cont’d)Recalling and Replacing Cash FlowsSTEPS KEYSTROKES DISPLAY1) Recall all cash flows and frequencies:Initial Cash Flow

USER’S GUIDE — 81Default SettingsPerforming a total Reset (see below) will return the calculator to thefollowing default settings:• Two Fixed Decimal

82 — QUALIFIER PLUS®IIIFXAuto Shut-OffYour calculator is designed to shut itself off after about 8-12 minutesof non-use.Batteries• Qualifier Plus IIIF

USER’S GUIDE — 83Repair and ReturnWarranty, Repair and Return Information! Return Guidelines:1. Please read the Warranty in this User’s Guide to deter

84 — QUALIFIER PLUS®IIIFXNon-Warranty Repair Service – U.S.A.Non-warranty repair covers service beyond the warranty period, or servicerequested due to

USER’S GUIDE — 85Legal NotesThis equipment has been certified to comply with the limits for a Class Bcomputing device, pursuant to Subpart J of Part 1

86 — QUALIFIER PLUS®IIIFX1ST AND 2ND TRUST DEEDS (COMBO LOANS), 671st/2nd TD (Combo Loan) Keys, 15Actual Qualifying Ratios, Solving for, 66Adjustable

USER’S GUIDE — 87Qualifying Comparison, 64QUALIFYING EXAMPLES, 59Qualifying Keys, 12Qualifying Loan Amount and Sales Price, Finding, 60Qualifying Loan

Designed in the United States of AmericaPrinted in China8/07UG3430E-E

8— QUALIFIER PLUS®IIIFXa Amortization (Amort) — Finds total interest, princi-pal, remaining balance, remaining term and estimat-ed mortgage interest t