Texas Instruments BA Real Estate User Manual page 58

Finding Qualifying Income Based on
Tax, Insurance, and Down Payment Amounts
1. Clear TVM values (if not already cleared).
2. Enter income percent (if not already
entered).
3. Enter debt percent (if not already
entered).
4. Enter annual tax amount.
5. Add annual insurance amount, and
enter total.
6. Enter term of loan (in years).
7. Enter interest rate.
8. Start the qualification.
9. Enter price.
10. Enter down payment amount.
11. Enter monthly debt amount (total).
12. Compute qualifying loan amount.
13. Compute payment.
14. Compute PITI.
15. Compute qualifying income.
# -
28
36
$3,750
a
$1,250
30
8
>
$250,000
$50,000
$635.00
$200,000.00
j
$ 1,467.53
j
$ 1,884.20
j
$6,997.78
j
Buyer Qualification 57
# m
# d
j # E
0
1
j
j