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Finding Income Required and
Allowable Monthly Debt
• Sales Price: $225,000
• Down%: 35%
• Property Tax: 1.5%
• Heating Expense: $125
• Term: 25 years
• Interest: 7.5%
Find the income required to finance a
$225,000 home and also find the maxi-
mum allowable debt.
STEPS
Clear
Enter Interest 7 • 5 ˆ
Enter Term
Enter Tax%
Enter heating 1 2 5 e
Enter Price
Enter %Down 3 5 d
Find $ Down
Find Mortgage l
Display Qualifying
Ratios
P
KEYSTROKES
o o
2 5 T
1 • 5 t
2 2 5 ) P
d
q
R
OCKET
EFERENCE
225,000.00
78,750.00
146,250.00
32.00 – 40.00
G
— 30
UIDE
DISPLAY
0.00
7.50
25.00
1.50
125.00
35.00
(Cont'd)
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