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Calculated Industries 3442 User Manual

Manual is about: Mortgage Finance Calculator

Summary of 3442

  • Page 1

    M ortgage q ualifier p lus ® px2 user’s guide model 3442 desktop model 43442 mortgage finance calculator.

  • Page 2: Features:

    The m ortgage q ualifier p lus px 2 was custom-designed for mort- gage lenders and residential real estate pros. With the push of a few buttons, it will pre-qualify prospective buyers instantly and solve hun- dreds of mortgage loan problems, including pick-a-payment arms and combo loans! Features: •...

  • Page 3: Table of Contents

    Getting started..........................................................................1 key definitions .........................................................................1 basic operation keys ....................................................................1 mortgage loan (tvm) keys .....

  • Page 4

    Finding loan-to-value (ltv) based on down payment and sales price ................................................................................29 entering loan-to-value (ltv) and finding loan and down payment ..........................................................................29 taxes and i...

  • Page 5

    Buyer qualifying...................................................................52 qualifying examples ...........................................................53 recalling income/debt qualifying ratios ....................................53 storing new income/debt qualifying ratios ..............

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    U ser ’ s g uide — 1 key definitions basic operation keys o turns all power off. The memory and most financial registers are cleared. O if off, turns power on. If on, a single press clears the last entry while a second press in succession clears all non-permanent registers.* *clears loan amount, pay...

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    2 — m ortgage q ualifier p lus ® p x2 s x clear all — clears all entered values and returns all storable values to the default settings. Use this only with caution, as it will reset ratios, payments per year, etc. Back to their defaults (see the appendix for a list of these settings). Note: clear al...

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    U ser ’ s g uide — 3 value of a financial problem. S + investment future value — functions the same as future value, but compounds interest at the begin- ning of the period rather than the end. P sales price — enters or calculates sales price based on the entries of loan amount (or equivalent mortga...

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    4 — m ortgage q ualifier p lus ® p x2 interest-only payment. This is also calculated via the fourth press of the p key. S ÷ payments per year (pmt/yr) — used to set the number of payment periods per year. Default value is 12, for monthly. Note: you can store the number of payments per year permanent...

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    U ser ’ s g uide — 5 est, or simple interest accumulated (based on a 360-day year) during the days before the first loan payment is made using the interest rate stored in the interest register. S t equity builder — converts a regular monthly loan to an equity builder loan, where the buyer may real- ...

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    6 — m ortgage q ualifier p lus ® p x2 rent vs. Buy keys s p rent vs. Buy — calculates a comparable sales price, loan amount and mortgage payment (versus the cost of monthly rent). You must enter loan vari- ables and a tax bracket via s p , then enter the prospective buyer’s current rent and press s ...

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    U ser ’ s g uide — 7 (cont’d) income ratio = total housing expense gross monthly income debt ratio = total housing expense + mo. Debt gross monthly income note: typically, when figuring government loans (fha/va), these formulas also include estimated expenses for maintenance and utilities (added to ...

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    8 — m ortgage q ualifier p lus ® p x2 (cont’d) *the maximum qualifying loan amount displayed is the “restricted” loan amount that the buyer may qualify for. This loan amount is based on whichever of the two ratios, income or debt, limits the buyer the most. If the buyer’s maximum qualifying loan amo...

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    U ser ’ s g uide — 9 tax, insurance and expense keys in addition to qualifying, the following keys are also involved in piti and total payment calculations (e.G., they are added to the monthly payment): s 7 property tax (tax) — used for calculating the piti payment and for qualifying. Stores estimat...

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    10 — m ortgage q ualifier p lus ® p x2 (cont’d) note: entering a number equal to or less than 10 is assumed to be an annual percentage. Mortgage insurance is calculated from the loan amount. Note: tax and insurance entered as dollar amounts will remain fixed, even if sales price or loan amount is ch...

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    U ser ’ s g uide — 11 s ß pick-a-payment term — enters the p-a-p/eb p-a-p term that is independent of the standard t entry for fixed-rate loans. S 6 annual payment cap % (pmt cap%) — stores the annual percent cap for the p-a-p/eb p-a-p annual payment adjustment, which is applied for the select- ed r...

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    12 — m ortgage q ualifier p lus ® p x2 (cont’d) the typical output of this key is as follows: press calculation 1-5 p-a-p payments (years 1-5)* 6 range for p-a-p savings and roi% savings range** 7 p-a-p savings (vs. Fixed-rate loan or p-a-p note% 8 stored roi% (default 10%) 9 roi% savings (based on ...

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    U ser ’ s g uide — 13 (cont’d) calculate the p-a-p savings and roi for the first two years. Calculating the p-a-p (or eb p-a-p) with an entered number greater than five years will still cal- culate the p-a-p savings and roi for years 1-5; however, the p-a-p loan will be amortized based upon the rang...

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    14 — m ortgage q ualifier p lus ® p x2 ! 1st td interest:term — stores the annual interest and term for the fixed-rate 1st td. These values are used when calculating the 1st:2nd fixed combo loan. Entry is made using the : key (separating interest and term). Both interest and term values are required...

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    U ser ’ s g uide — 15 s 4 interest-only 2nd trust deed combo — operates similarly to the fixed-rate combo loan function, but for a combo loan where the 2nd trust deed is interest-only (the 1st trust deed is a standard fixed- rate p&i loan). S b interest-only 2nd trust deed combo (desktop model 43442...

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    16 — m ortgage q ualifier p lus ® p x2 basic arithmetic examples arithmetic this calculator uses standard chaining logic, which simply means that you enter your first value, the operator ( + , – , x , ÷ ), the sec- ond value and then the equals sign ( = ). A. 3 + 2 = 5.00 b. 3 – 2 = 1.00 c. 3 x 2 = ...

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    U ser ’ s g uide — 17 reduction in listing price (discount %) a nervous seller has had her property on the market for just over four months listed at $175,500. Because she is anxious to move into a new home, she wishes to reduce the listing price by 5%. Calculate both the amount of reduction in doll...

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    18 — m ortgage q ualifier p lus ® p x2 preference settings your calculator has a preference mode, which allows you to program the calculator to various settings. For example, it lets you store cer- tain values permanently, display certain values, or show values in a specific order. To access the pre...

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    U ser ’ s g uide — 19 (cont’d) after s, keep description pressing (press + to advance =: display within each category, – to back up): at o . 4 property tax/insurance (t/i) - clr off tax ins — clears all tax/ins (% and $) values - hold pct. Tax ins — holds only tax/ins percent (%) entries at o . - ho...

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    20 — m ortgage q ualifier p lus ® p x2 (cont’d) after s, keep description pressing (press + to advance =: display within each category, – to back up): 8 beginning or end mode - typ end — end mode (default) - typ beg — beginning mode 9 p-a-p/eb p-a-p payment cutoff - yrs 5.00 p-a-p pmt — shows the fi...

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    U ser ’ s g uide — 21 (cont’d) after s, keep description pressing (press + to advance =: display within each category, – to back up): 13 - 12 m recast 5 — uses 5-year recast for a 12-mo. P-a-p. (default) subsequent presses of + advance until year 15, then numbering starts over at one. 14 - 36 m reca...

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    22 — m ortgage q ualifier p lus ® p x2 (cont’d) examples: steps keystrokes display enter into memory 3 5 5 µ m 355.00 enter into memory 2 5 5 µ m 255.00 recall total in memory ® µ m 610.00 subtract from memory 7 4 5 s µ m 745.00 recall total in memory ® µ m -135.00 replace memory 5 0 s ® µ m 50.00 r...

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    U ser ’ s g uide — 23 additional memory storage keys (m10-m19) in addition to m0-m5 (as described previously), your calculator has ten additional independent storage registers — (m10) through (m19) — that can also be used to permanently store single, non- cumulative values. To access these storage r...

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    24 — m ortgage q ualifier p lus ® p x2 (cont’d) 6. It is good practice to press o twice after completing a finan- cial problem to ensure that you have cleared the previous l and p registers. 7. When solving for a financial component, the calculator may dis- play the word “run” in the display. Solvin...

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    U ser ’ s g uide — 25 finding the interest-only payment find the interest-only payment on a loan of $15,000 at 9% interest. Steps keystrokes display clear calculator o o 0.00 enter loan amount 1 5 ) l 15,000.00 enter interest 9 ˆ 9.00 find interest-only payment s π * 112.50 *the fourth press of the ...

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    26 — m ortgage q ualifier p lus ® p x2 finding the interest rate find the interest rate on a mortgage where the loan amount is $98,500, term is 30 years, and the payment is $1,150 a month. Steps keystrokes display clear calculator o o 0.00 enter loan amount 9 8 5 0 0 l 98,500.00 enter term 3 0 t 30....

  • Page 32: ’

    U ser ’ s g uide — 27 non-monthly loans most residential real estate loans are paid off monthly. However, if you have a non-monthly loan, you must change the number of pay- ments per year by entering in the number of payments per year and pressing s ÷ . For example, here’s how to set your calculator...

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    28 — m ortgage q ualifier p lus ® p x2 sales price/down payment one of the unique features of this calculator is its ability to work with not only loan amount, but with sales price and down payment. You can enter two values to find the third (e.G., enter price and down payment to find loan amount). ...

  • Page 34: ’

    U ser ’ s g uide — 29 finding loan-to-value (ltv) based on down payment and sales price find the loan-to-value if a buyer is putting $15,000 down on a $165,500 home. Then find the loan amount. Steps keystrokes display clear calculator o o 0.00 enter sales price 1 6 5 5 0 0 p 165,500.00 enter down pa...

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    30 — m ortgage q ualifier p lus ® p x2 taxes and insurance this calculator has keys that store your estimated local annual property tax, property insurance, and mortgage insurance (if appli- cable). This allows you to calculate the piti (principal, interest, tax, and insurance) payment, in addition ...

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    U ser ’ s g uide — 31 recalling tax and insurance % rates recall your stored rates: steps keystrokes display recall tax rate ® 7 1.50 recall insurance rate ® 8 0.25 recall mortgage ins. Rate ® 9 0.50 note: to change these values, simply enter new ones. Or, turn the calculator off then on, and the va...

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    32 — m ortgage q ualifier p lus ® p x2 (cont’d) steps keystrokes display enter interest 8 ˆ 8.00 find loan amount l 225,000.00 recall property tax % ® 7 1.50 calculate property tax $ ® 7 3,750.00 recall property ins. % ® 8 0.25 calculate property ins. $ ® 8 625.00 recall mortgage ins. % ® 9 0.50 cal...

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    U ser ’ s g uide — 33 piti payment (tax and insurance entered as $) find the piti payment on a 30-year, 7.25% loan if the home’s selling price is $311,000 and the down payment is 20%. Local annual prop- erty taxes are estimated at $5,900 and property insurance at $370. Note: mi or mortgage insurance...

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    34 — m ortgage q ualifier p lus ® p x2 (cont’d) steps keystrokes display enter property insurance 5 0 0 s 8 500.00 enter mortgage insurance 1 2 0 0 s 9 1,200.00 enter monthly expenses 1 5 0 s d 150.00 find loan amount l 280,500.00 find p&i payment p “run” 1,681.74 find piti payment p 2,315.07 find t...

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    U ser ’ s g uide — 35 if the above loan starts in july, find the “after-tax” payment. Steps keystrokes display set mo. 1 offset to july 7 s ) 7.00 find annual tax savings s p p 1,887.16 find monthly tax savings p 314.53 find “after-tax” payment p 931.95 return mo. Offset to jan. 1 s ) 1.00 return ta...

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    36 — m ortgage q ualifier p lus ® p x2 apr and total finance charges calculating the annual percentage rate (apr) and total finance charges (tfc) is performed in two steps: (1) you set up the loan just like any other problem (that is, enter three known variables and solve for the fourth) and (2) com...

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    U ser ’ s g uide — 37 finding apr, total finance charges (including mortgage insurance) you are financing a mortgage of $275,000 for 30 years at a nominal, or quoted, rate of 6.25% interest. The cost of getting the loan is quoted as 1.5 points plus $550 in fees. What is the apr including mortgage in...

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    38 — m ortgage q ualifier p lus ® p x2 date examples using the : key, you can quickly solve common real estate date problems: escrow or closing dates, listing expiration dates, and the number of days prepaid interest, etc. You enter a date as follows: numerical month : , numerical day : and two-digi...

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    U ser ’ s g uide — 39 now, without clearing the calculator, add the pre-paid 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 keystrokes display store the pre-paid interest in memo...

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    40 — m ortgage q ualifier p lus ® p x2 equity builder term reduction and payment find the monthly p&i payment on a 30-year, $212,500 mortgage at 7.85% annual interest. Then convert it to an equity builder and find out how many years it will take to pay off this loan, the total interest savings, the ...

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    U ser ’ s g uide — 41 amortization and remaining balance the amortization function is quick and simple. It allows you to find total interest, principal and remaining balance for an entire loan, for an individual payment or individual year, or any range of payments or range of years, for fully or par...

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    42 — m ortgage q ualifier p lus ® p x2 (cont’d) 7. A useful new feature is that your calculator will also display an estimated mortgage interest tax deduction at the end of the amortization value list (after remaining balance is displayed), if a tax bracket is also entered via s p (tax brkt%). Note:...

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    U ser ’ s g uide — 43 amortization list for individual year(s) — using “next” feature how much total interest and total principal will you pay on a 30-year, $90,000 loan at 8% interest during the first year? The second year? Third year, etc.? First, find monthly payment to “set-up” this loan. The ca...

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    44 — m ortgage q ualifier p lus ® p x2 amortization list for individual year(s) — using month offset the first payment of a loan begins in may. Using the same loan amounts as the previous example, how much total interest and total principal will you pay on a 30-year, $90,000 loan at 8% interest dur-...

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    U ser ’ s g uide — 45 amortization list for individual payment(s) for a $175,000 loan at 6.85% interest for 30 years, find out how much interest and how much principal you’ll pay in the first and sec- ond payments. Steps keystrokes display clear calculator o o 0.00 enter loan amount 1 7 5 ) l 175,00...

  • Page 51: 46 — M

    46 — m ortgage q ualifier p lus ® p x2 amortization list for a range of payments or years for a $225,000, 30-year loan at 7.4% interest, find out how much interest and principal you’ll pay in payments 1-9 and years 1-10. Steps keystrokes display clear calculator o o 0.00 enter loan amount 2 2 5 ) l ...

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    U ser ’ s g uide — 47 mortgage interest tax savings — 21% or 30% tax bracket what is the mortgage interest tax savings for the first year (if loan starts in january*) on a $310,000, 30-year loan at 7.25% interest? Base it on 21% tax bracket (default). Then, recalculate based on a 30% tax bracket. St...

  • Page 53: 48 — M

    48 — m ortgage q ualifier p lus ® p x2 future value given any four components to a problem that includes a future value, you can calculate the fifth. Appreciation you purchased a home for $350,000 and want to know what it will be worth in 3 years, figuring an inflation or appreciation rate of 6%. (s...

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    U ser ’ s g uide — 49 retirement annuity what is the future value of an intial deposit of $87,000 after 15 years, if an additional $250 is deposited monthly, the interest rate is 5%, compounded at the beginning of each month? Steps keystrokes display clear calculator o o 0.00 enter present value 8 7...

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    50 — m ortgage q ualifier p lus ® p x2 trust deeds and discounted notes your calculator easily handles trust deed purchase price and yield problems. Two things to remember are: (1) when entering or solving for “yield” or “rate of return,” use the ˆ key, and (2) when entering or solving for “purchase...

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    U ser ’ s g uide — 51 what should you pay for this trust deed if you want an 18% yield on your investment? Steps keystrokes display enter your desired yield 1 8 ˆ 18.00 find purchase price l “run” 5,530.99 finding the value and discount of a trust deed determine the value and discount required for a...

  • Page 57: 52 — M

    52 — m ortgage q ualifier p lus ® p x2 buyer qualifying the qualifying keys on your calculator let you instantly pre-qualify prospective buyers. Mortgage lending pros will find these keys use- ful for doing instant loan pre-qualifications on the phone or in front of clients. Real estate agents/broke...

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    U ser ’ s g uide — 53 (cont’d) • the last press will display the allowable monthly debt. (note: you can set your qualifying ratios to display first or last via the preference settings. 5. When calculating annual income required (based on entered loan amount or sales price, term, interest and stored ...

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    54 — m ortgage q ualifier p lus ® p x2 storing new income/debt qualifying ratios enter and permanently store new qualifying ratios of 30% for income and 38% for debt in q : steps keystrokes display clear calculator o o 0.00 set qualifying ratios 3 0 : 3 8 q 30.00-38.00 return ratios to 28:36* 2 8 : ...

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    U ser ’ s g uide — 55 qualifying loan amount and sales price (complete example including down payment, tax/insurance, monthly association dues) the same buyers as in the previous example (who make $75,000 annually and have $500 in long-term monthly debt) wish to buy a lower-priced home and can only ...

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    56 — m ortgage q ualifier p lus ® p x2 “restricted” qualifying buyers who make $68,000 annually and have $750 in long-term monthly debt wish to buy a home offered at $175,000. They again can only afford $5,000 for the down payment. For what maximum loan amount can they qualify? Use previously stored...

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    U ser ’ s g uide — 57 “unrestricted” qualifying the amount calculated in the previous example is the loan they may qualify for, based on current income and debt. What are the buyer’s actual income and debt ratios? What does the “unrestricted” loan amount calculate to, and which side is it based on (...

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    58 — m ortgage q ualifier p lus ® p x2 qualifying comparison (comparing 2 different loans or ratios at once) given a buyer’s annual income of $45,000, $500 in long-term monthly debt, estimated monthly homeowner’s association dues of $50, an interest rate of 7.25% and term of 30 years, what loan amou...

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    U ser ’ s g uide — 59 finding income required and allowable monthly debt using the 28%:36% ratios, how much income would a buyer need to finance a $250,000 home if they put 20% down? What is the maxi- mum allowable debt? What is the dollar down payment and loan amount? What is the monthly payment? U...

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    60 — m ortgage q ualifier p lus ® p x2 solving for actual qualifying ratios a buyer who makes $120,000 annually and has $550 in long-term monthly debt wants to borrow $275,000 to purchase a home. He has $68,750 for the down payment and the property tax/insurance rates are estimated at 1.4% and 0.2%,...

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    U ser ’ s g uide — 61 pick-a-payment and combo loans the following examples show you how to calculate p-a-p/eb p-a-p or combo (1st/2nd trust deed) loans, in order to demonstrate the savings benefits to your clients. These loans can result in significant savings over traditional fixed-rate loans (wit...

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    62 — m ortgage q ualifier p lus ® p x2 (cont’d) additionally, besides the entry of a start rate, the calculator allows the entry of a start payment for purposes of performing a “pick-a- payment” type of p-a-p loan. The user can also toggle between the entered start payment and start rate (the calcul...

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    U ser ’ s g uide — 63 (cont’d) *roi: you can set a new roi at any time by entering a new value, e.G., 8% roi, enter 8 s % . Just remember this value is stored permanently, or you must enter a new value or perform a clear all s x to reset. To recall the stored value, press ® s % . Roi comparison shor...

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    64 — m ortgage q ualifier p lus ® p x2 (cont’d) steps keystrokes display 4. Find the first five p-a-p payments:* find 1st year payment ∏ 1,000.00 find 2nd year payment ∏ 1,075.00 find 3rd year payment ∏ 1,155.63 find 4th year payment ∏ 1,242.30 find 5th year payment ∏ 1,335.47 5. Find 5-year p-a-p s...

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    U ser ’ s g uide — 65 pick-a-payment loan (zero-month/30-term) vs. Standard fixed-rate loan — entering a starting interest rate %, changing roi% and payment cap%, solving payment options you’d like to show your client the savings of a zero-month/30-term p-a-p loan with a starting interest rate of 3....

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    66 — m ortgage q ualifier p lus ® p x2 (cont’d) steps keystrokes display 4. Find the first five p-a-p payments: find 1st year payment ∏ 1,423.61 find 2nd year payment ∏ 1,494.79 find 3rd year payment ∏ 1,569.53 find 4th year payment ∏ 1,648.01 find 5th year payment ∏ 1,730.41 5. Find 5-year p-a-p sa...

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    U ser ’ s g uide — 67 (cont’d) total payments of traditional fixed-rate loan: 755,151.67 total payments of p-a-p loan: 842,120.24 total return with investment: 219,313.23 *note that, in this case, the total cost of the p-a-p loan is higher than the fixed-rate loan; however, the initial savings is si...

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    68 — m ortgage q ualifier p lus ® p x2 equity builder pick-a-payment loan (zero-month/30- term) vs. Standard fixed-rate loan fixed-rate loan eb p-a-p loan loan amount 300,000 300,000 interest/start payment 7.5% $1,500 (start payment) 7.50% (note%) term 30 0 (start no. Of mo.’s) 30 years roi% -- 7% p...

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    U ser ’ s g uide — 69 (cont’d) steps keystrokes display 4. Find the first five eb p-a-p payments: find 1st year payment e 750.00 find 2nd year payment e 787.50 find 3rd year payment e 826.88 find 4th year payment e 868.22 find 5th year payment e 911.63 5. Find 5-year eb p-a-p savings (with no roi% a...

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    70 — m ortgage q ualifier p lus ® p x2 pick-a-payment loan (3-month/30-term) vs. Standard fixed-rate loan — finding p-a-p savings for the first three years (versus the first five years) you’d like to show your client the savings of a 3-month/30-term p-a-p loan over that of a fixed-rate loan. Find th...

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    U ser ’ s g uide — 71 (cont’d) steps keystrokes display 4. Calculate p-a-p savings & roi for the first 3 years*: display range for savings and roi calculations 3 ∏ 1-3 find 3-year savings ∏ 23,369.28 re-display roi% ∏ “run” 6.50 find 3-year roi ∏ 25,882.55 5. Amortize the p-a-p for the first 3 years...

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    72 — m ortgage q ualifier p lus ® p x2 fixed-rate combo loan (1st td/2nd td) find the combo loan blended interest rate, combined payment, and 1st and 2nd loan amounts and payments, if you have the following parameters: fixed-rate combo loan (1st td – 2nd td) loan amount 100,000 interest 8% – 10% ter...

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    U ser ’ s g uide — 73 combo loan vs. Fixed-rate loan with mi you’d like to show your client the savings of a fixed-rate combo loan over that of a standard, fixed-rate loan with mi. You have the following parameters: fixed-rate fixed-rate combo loan loan w/mi (1st td – 2nd td) price 100,000 100,000 i...

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    74 — m ortgage q ualifier p lus ® p x2 (cont’d) steps keystrokes display find equivalent fixed-rate loan payment 5 636.27 find monthly savings over single fixed-rate loan w/mi 5 23.57 find adjusted 2nd term (if savings applied to 2nd loan) 5 14.23 find 1st td loan amount 5 80,000.00 find 2nd td loan...

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    U ser ’ s g uide — 75 (cont’d) steps keystrokes display 1. Enter fixed-rate loan values and find total payment: clear calculator o o 0.00 enter price 1 0 0 ) p 100,000.00 enter down payment 1 0 d 10.00 enter interest 7 ˆ 7.00 enter term 3 0 t 30.00 enter mi (mortgage insurance) value • 5 s 9 0.50 cl...

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    76 — m ortgage q ualifier p lus ® p x2 pick-a-payment (3-month/30-term) combo loan vs. Fixed-rate loan w/mi you’d like to show your client the savings of a p-a-p combo loan over that of a fixed-rate loan with mi. Find the p-a-p combo (1st td/2nd td) loan amounts, payments and total cost, if you have...

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    U ser ’ s g uide — 77 (cont’d) steps keystrokes display 4. Find 1st td payments: find 1st year payment n 404.54 find 2nd year payment n 434.88 find 3rd year payment n 467.50 find 4th year payment n 502.56 find 5th year payment n 540.25 5. Find 1st td loan amount: n 75,789.47 6. Find 1st td total cos...

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    78 — m ortgage q ualifier p lus ® p x2 equity builder pick-a-payment (3-month/30-term) combo loan vs. Fixed-rate loan w/mi now show your client the savings of a eb p-a-p combo loan over that of a fixed-rate loan with mi. Find the eb p-a-p combo (1st td/2nd td) loan amounts, payments and total cost, ...

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    U ser ’ s g uide — 79 (cont’d) steps keystrokes display enter 2nd td interest:term 1 1 • 5 : 3 0 s ! 11.50-30.00 enter 1st:2nd ltv values 8 0 : 1 5 s d 80.00-15.00 4. Find 1st td payments: find 1st year payment s n 202.27 find 2nd year payment n 217.44 find 3rd year payment n 233.75 find 4th year pa...

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    80 — m ortgage q ualifier p lus ® p x2 default settings performing a total reset (see next page) will return the calculator to the following default settings: • two fixed decimal places • 12 periods per year = reset to 12 upon o • property ins. = based on price • property tax/ins. = values cleared u...

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    U ser ’ s g uide — 81 auto shut-off your calculator is designed to shut itself off after about 8-12 minutes of non-use. Batteries • mortgage qualifier plus px 2 (#3442) two lr-44 batteries. • mortgage qualifier plus px 2 desktop (#43442) one 3-volt lithium cr-2032 battery. Replacing the battery(ies)...

  • Page 87: 82 — M

    82 — m ortgage q ualifier p lus ® p x2 reset manual reset if your calculator’s display should ever freeze or “lock up,” press reset — a small hole located to the left of the o key — to perform a total reset. (it is recommended you use a straightened paper clip, as the hole is extremely small). Keyst...

  • Page 88: ’

    U ser ’ s g uide — 83 warranty warranty repair service – u.S.A. Calculated industries (“ci”) warrants this product against defects in materials and workmanship for a period of one (1) year from the date of original consumer purchase in the u.S. If a defect exists during the warranty period, ci at it...

  • Page 89: 84 — M

    84 — m ortgage q ualifier p lus ® p x2 legal notes this equipment has been certified to comply with the limits for a class b computing device, pursuant to subpart j of part 15 of fcc rules. Software copyrighted and licensed to calculated industries, inc., by real estate master technologies, llc, 200...

  • Page 90: 5/06

    Designed in the united states of america printed in china 5/06 ug3442e-a.