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Qualifying Loan Amount
• Buyer's income: $75,000
• Monthly debt: $500
• Down$: $5,000
• Property taxes: 1.5%
• Property insurance: 0.25%
• Mortgage insurance: 0.6%
• Monthly association dues: $50
• Term: 30 years
• Interest: 7.5%
• Qualifying ratios: 28%: 36%
Find the Qualifying Loan Amount, Price
and Total Payment:
STEPS
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Enter income 7 5 ) i
Enter debt
Enter down
Set tax%
Set insurance% • 2 5 I
Set MI%
Enter association
dues
Enter interest 7 • 5 ˆ
Enter term
Display ratios q
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KEYSTROKES
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5 0 0 D
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OCKET
EFERENCE
75,000.00
28.00 - 36.00
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UIDE
DISPLAY
0.00
500.00
5,000.00
1.50
0.25
0.60
50.00
7.50
30.00
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