Calculated Industries 3430 Pocket Reference Manual - Ocket
Other manuals for 3430:
User Manual
Manual is about: ADVANCED RESIDENTIAL REAL ESTATE FINANCE CALCULATOR with CASH FLOW and COMPLETE BUYER QUALIFYING
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43
P
OCKET
R
EFERENCE
G
UIDE
— 27
(Cont’d)
STEPS
KEYSTROKES
DISPLAY
Find actual ratios
q
22.76-36.00
Find “Unrestricted” loan
amount
q
170,870.75 LA INC*
Find maximum allowable monthly
debt
q
453.33
*Note: The “INC” tells you this unrestricted
Qualifying Loan Amount is based on the buyer’s
Income Ratio — therefore, the restricted
Qualifying Loan Amount is based on the buyer’s
Debt Ratio. This means that if they pay off their
monthly debt (to $453/month or lower) they may
qualify for a mortgage loan of approximately
$170,000 or more and afford a $175,000 home
(if they put approximately $4-$5K down).