USER’S GUIDE — 13(Cont’d)calculate the P-A-P Savings and ROI for the first twoyears. Calculating the P-A-P (or EB P-A-P) with anentered 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 basedupon the range entered (i.e., 7 ∏ will calculateP-A-P Savings and Investment Savings w/ROI foryears 1-5, and the Amortized values will be calculat-ed for years 1-7).eEquity Builder Pick-A-Payment Adjustable RateMortgage — Operates identically to the regularP-A-P key, except it’s based on 26 payments peryear instead of 12.s ∏Payment Options — Displays the P-A-P Start pay-ment (1st year only), the interest-only payment(based on Note Rate), 30-year payment (based onNote Rate), 15-year payment (based on Note Rate),and P-A-P deferred interest payment.s ePayment Options — Same values as above, butfor the Equity Builder Pick-A-Payment loan.Combo Loan KeysThe Combo Loan keys show the savings of obtaining a 2nd TrustDeed (TD) loan over a single, fixed-rate loan where mortgage insur-ance (MI) is required.This routine requires a fixed-rate loan to be entered using the stan-dard l, p, ˆ and/or T keys so that a loan comparison canbe made.s dLoan-to-Value Combo Loan (LTV 1st:2nd) —Stores the Loan-to-Value (LTV) ratio for the 1st and2nd TD loans using the : key. The stored values area percentage of the sales price (e.g., 8 0 : 1 0identifies that 80% of the price is covered by the 1stTD, 10% of the price is covered by the 2nd TD andthe remaining 10% is covered by the down pay-ment). Both values need to be entered for a validentry. Values will be retained until changed or reset.(Default: 80.00-10.00)
