Setting Qualifying Ratios; Qualifying Mortgage Amount - Calculated Industries 3420 Pocket Reference Manual

Setting Qualifying Ratios

In Canadian Mode, GDS:TDS (Gross
Debt Service/Total Debt Service) ratios of
32% and 40% are permanently stored in
the q key, and optional ratios of 35%-
42% in the Q key. However, you can
enter any ratios you desire. For example,
enter new qualifying ratios of 30% for
GDS and 38% for TDS in q :
STEPS
Clear
Set Ratios

Qualifying Mortgage Amount

• Buyer's Income: $45,000
• Monthly Debt: $250
• Down Payment: 25%
• Property Tax: 1.5%
• Monthly heating exp: $100
• Term: 25 years
• Interest: 7.25%
• GDS/TDS Ratios: 32% – 40%
P
KEYSTROKES
o o
3 0 : 3 8 q
R
OCKET EFERENCE
30.00-38.00
G — 24
UIDE
DISPLAY
0.00
(Cont'd)