Calculated Industries Real Estate Master IIx User Manual page 57

Income Required and Allowable Monthly Debt
— Sales Price & Down Payment
Using 28%:36% ratios, what income must
a buyer earn to purchase a $245,000
home if they put down 20%? (Use 8%
interest for 30 years.)
Steps/Keystrokes
1. Clear calculator:
[On/C] [On/C]
2. Enter annual interest:
8 [Int]
3. Enter term in years then enter sales
price:
30 [Term]
245,000 [Price]
4. Enter down payment percent and find
loan amount:
20 [Dn Pmt]
[L/A]
5. Display qualifying ratios, find income
required and maximum allowable
monthly debts:
[Qual 1]
[Qual 1]
[Qual 1]
245,000.00
196,000.00
28.00 – 36.00
"run" 61,636.22
"run" 410.91
User's Guide — 57
Display
0.00
8.00
30.00
20.00