56 — MORTGAGE QUALIFIER PLUS ®P X2“Restricted” QualifyingBuyers who make $68,000 annually and have $750 in long-termmonthly debt wish to buy a home offered at $175,000. They againcan only afford $5,000 for the down payment. For what maximumloan amount can they qualify?Use previously stored 7.5% interest, 30-year term, Tax/Ins./MI ratesof 1.5%, .25% and 0.6%, respectively, and qualifying ratios of28%:36%. Re-enter 0.6% mortgage insurance rate, $50 assn. duesand $5,000 down. If you’ve cleared or changed these values, pleasere-enter them.STEPS KEYSTROKES DISPLAYClear calculator o o 0.00Recall interest* ® ˆ 7.50Recall term* ® T 30.00Recall annual prop. tax % ® 7 1.50Recall annual prop. ins. % ® 8 0.25Re-enter annual MI rate • 6 s 9 0.60Enter homeowner’s dues* 5 0 s D 50.00Enter down payment 5 ) d 5,000.00Enter annual income 6 8 ) i 68,000.00Enter monthly debt 7 5 0 D 750.00Display qualifying ratios q 28.00-36.00Find “restricted”qualifying loan amount q “run” 137,725.41— DO NOT CLEAR CALCULATOR —Note: Press sbefore pressing qin these examples for Interest-Only qualifying.For Desktop Model (#43442) Users:*Enter 5 0 Aon the Desktop model.
