80:15:5 Combo Loan Vs. Fixed-Rate Loan With Mortgage Insurance - Calculated Industries 3405 Pocket Reference Manual

80:15:5 Combo Loan vs. Fixed-Rate
Loan with Mortgage Insurance
Compare an 80:15:5 Combo Loan vs. a
Fixed-Rate loan w/mortgage insurance.
The loan parameters are:
Loan
Interest
Term
PMI
LTV
STEPS
1. Enter Fixed-Rate Loan Values and
Find Total Payment:
Clear
Enter loan
Enter interest 6 ˆ
Enter term
Enter MI%
Clear Tax*
P
FIXED
w/PMI
350,000
6.00%
30
0.62%
95%
KEYSTROKES
o o
3 5 0 ) l
3 0 T
• 6 2 s I
0 t
R
OCKET EFERENCE
350,000.00
G — 37
UIDE
COMBO
1st/2nd)
350,000
5.25% –
7.0%
30 year–
15 year
--
80% –
15%
DISPLAY
0.00
6.00
30.00
0.62
0.00
(Cont'd)