Calculated Industries 3430 User manual

QUALIFIER PLUS®IIIFX
ADVANCED RESIDENTIAL REAL ESTATE FINANCE CALCULATOR
with CASH FLOW and COMPLETE BUYER QUALIFYING
Model 3430 • Qualifier Plus®IIIFX
Model 43430 • Qualifier Plus®IIIFX Desktop

USER’SGUIDE — 1
The new QUALIFIER PLUS IIIFX was custom-designed for mortgage
lenders and residential real estate pro’s. With the push of a few but-
tons, it will quickly pre-qualify prospective buyers and solve hundreds
of mortgage loan problems! It also operates as an easy-to-use
financial calculator, with user-friendly cash flow keys for analyzing
real estate investments, and TVM keys to analyze retirement/savings
scenarios. It’s the most complete and easy-to-use real estate and
finance calculator on the market!
Features:
• Easy and Complete Buyer Qualifying
• Find Qualifying Loan Amount, Income Required and
Maximum Allowable Debt
• Use Two Qualifying Ratios at Once to Compare Different
Loans (e.g., conventional vs. FHA/VA loans)
• Find the Restricted and Unrestricted Qualifying Loan Amount
• Instant P&I, PITI and Total Payment
• Interest-Only Payment
• Expanded Tax and Insurance Capabilities
• Built-in Sales Price and Down Payment
• Works in Annual Term and Interest
• Flexible, “what-if” Loan or TVM Calculations — Finds Loan
Amount, Term, Interest or Payment
• Future Value and Appreciation
• Complete Amortization
• Remaining Balances/Balloon Payments
• Adjustable Rate Mortgages (ARMs)
• APR and Total Finance Charges
• Bi-Weekly Loans
• Trust Deeds (investments)
• Date Math
• Also Works as a Standard Math Calculator
New!
• 1st and 2nd Trust Deeds (80:10:10/80:15:5), or Combo Loans
• APR, including Mortgage Insurance
• Beginning/End Mode
• Cash Flows/Investment Analysis (IRR, NPV, NFV)
• Income Tax Savings, Mortgage Interest Deduction
• Interest-Only Payments
• Loan-to-Value (LTV)
• Odd-Days Interest (ODI) & Month Offset
• Rent vs. Buy
• Retirement Savings
Introducing the QUALIFIER PLUS®IIIFX
Mortgage Loan Calculator

2—QUALIFIER PLUS®IIIFX
GETTING STARTED..........................................................................5
KEY DEFINITIONS .........................................................................5
Basic Operation Keys ..................................................................5
Mortgage Loan (TVM) Keys.........................................................6
Tax, Insurance and Expense Keys ............................................10
Tax Savings Keys.......................................................................11
Rent vs. Buy Keys .....................................................................12
Qualifying Keys ..........................................................................12
1st & 2nd Trust Deeds (Combo Loan) Keys..............................15
Cash Flow Keys .........................................................................16
BASIC ARITHMETIC EXAMPLES ...............................................18
Arithmetic ...................................................................................18
Percent Calculations ..................................................................18
Figuring Straight Percent Commission ......................................18
Reduction in Listing Price (Discount %) ....................................19
Simple, 1-Year Home Appreciation (Add-on %).........................19
Date Examples...........................................................................20
CALCULATOR SETTINGS...........................................................21
Decimal Place Selection ............................................................21
Preference Settings ...................................................................22
MEMORY ......................................................................................24
Accumulative Memory................................................................24
Memory Storage Keys (M0-M5).................................................25
EXAMPLES......................................................................................27
MORTGAGE LOANS/TIME-VALUE-OF-MONEY (TVM) .............27
Finding the Monthly Mortgage (P&I) Payment...........................28
Finding the Loan Amount...........................................................28
Finding the Interest Rate ...........................................................28
Finding the Term of a Loan........................................................29
Paying Off a Mortgage Early (Making Larger Payments)..........29
Simple Interest vs. Compound Interest......................................30
Sales Price/Down Payment .......................................................30
Finding Loan Amount Based on Sales Price and Down
Payment..................................................................................30
Taxes and Insurance..................................................................31
Setting Tax and Insurance Percent Rates .................................32
Recalling Tax and Insurance Percent Rates..............................32
Setting Tax and Insurance Dollars .............................................32
Calculating Tax and Insurance Percent or Dollars.....................33
PITI Payment (Tax and Insurance Entered as Percent) ............34
TABLE OF CONTENTS

USER’SGUIDE — 3
Total Payment (Including Expenses) and Interest-Only
Payment..................................................................................34
Amortization and Remaining Balance........................................35
Notes on Amortization................................................................35
Total Principal and Interest for a 30-Year Loan .........................37
Balloon Payment/Remaining Balance Needed to Pay Off
a Loan.....................................................................................37
Amortization List for Individual Year(s) —
Using “Next” Feature ..............................................................38
Amortization List for Individual Year(s) —
Using Month Offset.................................................................39
Amortization List for Individual Payment(s) ...............................40
Amortization List for a Range of Payments ...............................41
Amortization List for a Range of Years ......................................41
Bi-Weekly Loans ........................................................................42
Bi-Weekly Term Reduction and Payment ..................................42
Future Value...............................................................................43
Appreciation ...............................................................................43
Retirement Savings Account Problem (Future Value of an Initial
Deposit or Lump Sum)............................................................44
Retirement Savings (Future Value of Monthly Investment —
Using Beginning Mode) ..........................................................44
Non-Monthly Loans....................................................................45
Finding a Quarterly Payment .....................................................46
Trust Deeds and Discounted Notes...........................................46
Purchase Price of a Note — Fully Amortized ............................46
Finding the Yield on a Discounted Note ....................................47
Finding the Value and Discount of a Trust Deed .......................48
APR and Total Finance Charges ...............................................49
Finding APR and Total Finance Charges...................................49
Prepaid/Odd-Days Interest and APR .........................................50
Adjustable Rate Mortgages........................................................51
ARM Payment — Worst-Case Scenario....................................52
ARM Payment — Using Lifetime Cap .......................................53
Decreasing ARM Payment.........................................................54
Increasing and Decreasing ARM Payment ................................54
Estimated Income Tax Savings and “After-Tax” Payment .........55
Rent vs. Buy...............................................................................56
BUYER QUALIFYING...................................................................57
QUALIFYING EXAMPLES ...........................................................59
Recalling Income/Debt Qualifying Ratios ..................................59
Storing New Income/Debt Qualifying Ratios..............................59
Finding Qualifying Loan Amount and Sales Price (Simple
Example Excluding Tax/Insurance).........................................60

4—Q
UALIFIER PLUS®IIIFX
Qualifying Loan Amount and Sales Price (Complete Example
Including Down Payment, Tax/Insurance, Monthly Association
Dues) ......................................................................................61
“Restricted” Qualifying ...............................................................62
“Unrestricted” Qualifying ............................................................63
Qualifying Comparison (Comparing Two Different Loans or
Ratios at Once).......................................................................64
Finding Income Required and Allowable Monthly Debt .............65
Solving for Actual Qualifying Ratios...........................................66
1ST AND 2ND TRUST DEEDS (COMBO LOANS) .....................67
Combo Loan (80:10:10) vs. Fixed-Rate Loan with Mortgage
Insurance ................................................................................68
Combo Loan (80:15:5) vs. Fixed-Rate Loan with Mortgage
Insurance ................................................................................70
Combo Loan — Entering a New LTV ........................................72
Financed Mortgage Insurance Compared to a Combo Loan ....74
CASH FLOW EXAMPLES............................................................76
Calculating IRR, NPV, and NFV for Annual Cash Flows ...........78
Calculating IRR, NPV, and NFV for Monthly Cash Flows .........79
Recalling and Replacing Cash Flows ........................................80
Recalling and Replacing Cash Flow Frequencies .....................80
APPENDIX .......................................................................................81
Default Settings..........................................................................81
Reset..........................................................................................81
Error Codes................................................................................81
Auto Shut-Off .............................................................................82
Batteries .....................................................................................82
Repair and Return......................................................................83
Warranty.....................................................................................83
Legal Notes................................................................................85
Looking For New Ideas..............................................................85
INDEX .............................................................................................86

USER’SGUIDE — 5
KEY DEFINITIONS
Basic Operation Keys
OTurns all power off. The Memory and most financial
registers are cleared.
oIf off, turns power on. If on, a single press clears the
last entry while a second press in succession clears
all non-permanent registers.*
*Clears Loan Amount, Payment, Price, Down Payment, Income,
Debt, Expense, and Mortgage Insurance/MI (unless MI is set to
hold; see Preference Settings).
+ – x Arithmetic operation keys.
÷ =
0- 9Digits used for keying in numbers.
)Triple-zero key (saves time when entering 000 values).
bBackspace key (deletes entries one digit at a time).
•Decimal point.
%Percent — Four-function (+, –, x, ÷) percent key.
See page 18 for examples.
μMemory — Adds the displayed number to the
cumulative Memory. Pressing s μ (M–) will
subtract the displayed value from Memory. Pressing
® μ recalls and displays the Memory contents.
Pressing ® ® displays and clears the Memory.
See page 24 for details.
®Recall — Recalls and displays the stored values in
most keys/functions, such as the TVM keys, pay-
ments per year, etc. (e.g., ® ˆ). Also used for
Memory functions.
sWorks with other keys to set or activate second
functions (it will perform the function printed above
the key on the calculator's face). Also used to set
the number of displayed decimal places (see
Decimal Place Selection on page 21).
GETTING STARTED

6—Q
UALIFIER PLUS®IIIFX
s – Change Sign (+/–) — Changes the sign of the dis-
played value from positive to negative or vice versa.
s x Clear All — Clears all entered values and returns
any stored values to their default settings. Use this
only with caution, as it will reset ratios, periods per
year, etc. back to their defaults (see Appendix on
page 81 for a list of these settings).
Note: Clear All will not affect any changes made to Preference
Settings (with the exception of Payments/Year and Decimal
Places, which are returned to their defaults), unless you perform
a Reset (see page 81).
s = Preferences (Prefs) — Activates the Preference
Mode, where you can select custom settings (see
page 22).
Mortgage Loan (TVM) Keys
The following keys let you solve Time-Value-of-Money (TVM) prob-
lems, such as finding a loan payment, term, interest or future value,
amortization or Bi-Weekly loans. Other useful keys, such as Price
and Down Payment, are also included. These mortgage loan keys
let you easily demonstrate various “what-if” loan scenarios to your
clients.
lLoan Amount — Enters or solves for the initial loan
amount or present value of a financial problem.
pP&I, PITI Payment, Total Payment, Interest-Only
Payment — Enters or solves for the periodic princi-
pal and interest (P&I) payment. Pressing pa sec-
ond time in succession calculates the PITI payment
(P&I plus property tax, property insurance and mort-
gage insurance, if entered). The third press of p
computes the total payment (PITI plus any entered
expenses, such as homeowner’s association dues
and other housing expenses). The fourth press cal-
culates the interest-only payment.
TEnters or solves for the number of years. Second
press displays the number of periods. You may
enter a periodic term, if you prefer, by pressing the
s b (Periodic) keys (e.g., 3 6 0 s b
Tinstead of 3 0 T). An entered term greater
than 45 will be classified as periodic, not annual.
Note: Stored permanently, until you change it or perform a Clear
All (s x).

USER’SGUIDE — 7
ˆInterest — Enters or solves for the annual interest
rate. Second press gives the periodic rate.
Note: Stored permanently, until you change it.
s l Future Value (FV) — Enters or solves for the future
value of a financial problem.
PSales Price — Enters or calculates Sales Price
based on the entries of Loan Amount (or equivalent
mortgage components) and Down Payment.
dDown Payment — Enters (in either percent or dol-
lars) or calculates Down Payment, based on the
entries of Loan Amount (or equivalent mortgage
components) and Sales Price. A second press
changes the entered down payment from a dollar
figure to a percent, or vice versa.
Note: Any number under 100 is assumed to be a percent down
payment. You do not have to label the value as a percent
s d Loan-to-Value (LTV) — Calculates the loan-to-value
percent when a Down Payment and Sales Price,
Loan Amount and Down Payment, or Loan Amount
and Sales Price are entered. Also calculates the
above dolar values if an LTV percent and one of the
above values are entered (e.g., entered Sales Price
and LTV percent will calculate Down Payment and
Loan Amount).
s ˆ Annual Percentage Rate (APR) — Calculates APR
(for fixed-rate loans only) based on the entry of points
and/or non-recurring loan fees paid at initiation. It
also calculates total finance charges, monthly mort-
gage insurance, and PIMI payment, based on the
entry of mortgage insurance via the s 9 keys.
s b Periodic — Used to specify a mortgage component
(Term or Interest), Income, or Amortization/Remaining
Balance value as per period rather than per year.
For example, 3 6 0 s b T enters 360
periods, or months.
s ÷ Payments per Year (Pmt/Yr) — Used to set the
number of payment periods per year. Default value
is 12, for monthly.
Note: You can store the number of payments/year permanently or
semi-permanently. See Preference Settings on page 22).

8—Q
UALIFIER PLUS®IIIFX
aAmortization (Amort) — Finds total interest, princi-
pal, remaining balance, remaining term and estimat-
ed mortgage interest tax deduction.
The output of this key is as follows:
Press Display or Calculation
1 Displays range of periods
2 Calculates total interest for period range
3 Displays total principal for range
4 Calculates total principal and interest
5 Calculates remaining balance
6 Calculates remaining term
7 Calculates estimated mortgage interest tax
deduction for the specified period, based on
the default tax bracket of 28%*
*You may enter any tax bracket (e.g., 30%, press 3 0 s +
and recalculate amortization values).
Note: This is only for estimating a mortgage interest tax deduc-
tion — it does not include property tax. See Tax Savings Keys for
income tax savings including property tax and mortgage interest
on page 11.
s a Remaining Balance (Bal) — Displays the remain-
ing balance when preceded by a single year or
range of years (or individual payment or range of
payments by using the s b keys). Note that
you can also view the remaining balance by continu-
ously pressing the akey.
:Colon Separator (Date) — Used as a separator for
entering dates, ARM adjustments, qualifying ratios,
Combo loan (1st/2nd) interest and terms, and for
entering amortization ranges and interest/term
adjustments.
s ) Month Offset (Mo Offset) — Used to set the first
month of payment if other than January.
s : Odd-Days Interest (ODI) — Calculates the prepaid
interest, or simple interest accumulated (based on a
360-day year) during the days before the first loan
payment is made using the interest rate stored in
the Interest register.

USER’SGUIDE — 9
AAdjustable Rate Mortgage — Calculates the pay-
ment and re-amortizes a fully or partially amortized
Adjustable Rate Mortgage based on the inputs of
both an Interest Adjustment and a Term Adjustment,
which are entered using the Colon :key (Interest
Adjustment :Term Adjustment). For example, an
ARM which increases 1% every year is entered 1
:1A; an ARM which decreases 1% per year is
entered 1 : 1 s A. (ARM rates are stored
permanently.)
s % Lifetime Interest Cap (Cap%) — Sets the lifetime
interest cap for ARMs by entering the maximum
interest increase. This is a permanent setting. To
clear, set the cap back to zero (0 s %).
s T Bi-Weekly (Bi-Wkly) — Converts a regular monthly
loan to a Bi-Weekly loan, where the buyer may real-
ize significant interest savings. After loan variables
are entered, pressing s T displays the reduc-
tion in term. The second press of Tshows the
total interest savings; third press displays the total
interest paid; fourth press displays the total principal;
and fifth press displays the total principal and inter-
est paid. Pressing pwill calculate the Bi-Weekly
payment. Pressing s T again will return and
re-calculate to the original term, or pressing o
twice will exit Bi-Weekly Mode.
s + Tax Bracket (Tax Brkt%) — Enters a buyer’s tax
bracket for figuring Rent vs. Buy calculations, for
calculating Tax Savings, or for calculating an esti-
mated mortgage interest tax deduction in the
Amortization calculation. Press ® + to display
stored percentage. (Default = 28%)

10 — QUALIFIER PLUS®IIIFX
Tax, Insurance and Expense Keys
In addition to Qualifying, the following keys are also involved in PITI
or total payment calculations (e.g., they are added to the monthly
payment):
s 7 Property Tax (Tax) — Used for calculating PITI and
Total payment, and Qualifying. Stores estimated
annual property tax in either percent or dollar
amount. If entered as an annual dollar amount,
pressing ® 7 converts to the monthly tax amount,
and pressing ® 7 again converts to the annual
percentage rate. If entered as a percentage, press-
ing ® 7 converts to the annual dollar amount, and
pressing ® 7 once more shows the monthly tax.
Note: Entering a number equal to or less than 10 is assumed to
be an annual percentage. Property tax is calculated from the
sales price (therefore, you should also enter a Down Payment).
s 8 Property Insurance (Ins) — Used for calculating
PITI and Total payment, and Qualifying. Stores esti-
mated annual property (or homeowner’s) insurance
in either percent or dollar amount. If entered as an
annual dollar amount, pressing ® 8 converts to
the monthly insurance amount or premium, and
pressing ® 8 again converts to the annual per-
centage rate. If entered as a percentage, pressing
® 8 converts to the annual dollar amount, and
pressing ® 8 once more shows the monthly
insurance.
Note: Entering a number equal to or less than 10 is assumed to
be an annual percentage. Property insurance is calculated from
the sales price (therefore, you should also enter a Down Payment).
s 9 Mortgage Insurance (Mtg Ins) — Used for calculat-
ing PITI and Total payment, and Qualifying. Stores
estimated annual mortgage insurance (or Private
Mortgage Insurance) in either percent or dollar
amount. If entered as an annual dollar amount, a
press of ®9converts to the monthly mortgage
insurance amount or premium, and pressing ® 9
again converts to the annual percentage rate. If
entered as a percentage, pressing ® 9 converts
to the annual dollar amount, and pressing ® 9
once more shows the monthly insurance.
(Cont’d)

USER’SGUIDE — 11
(Cont’d)
Note: Entering a number equal to or less than 10 is assumed to
be an annual percent. Mortgage insurance is calculated from the
loan amount.
Note: Tax and Insurance entered as dollar amounts will remain
fixed, even if sales price or loan amount is changed. However, if
entered as a percent of sales price or loan amount, these items
will automatically be re-calculated if sales price or loan amount is
changed.
eExpense — Used for calculating Total Payment and
Qualifying. Enters monthly housing expense (e.g.,
homeowner’s association dues, maintenance and
utilities).
Tax Savings Keys
s p Estimated Income Tax Savings (Tax Svgs) —
Calculates an estimated annual income tax savings
for a mortgage, based on entered loan variables,
including property tax, mortgage interest, and tax
bracket. You may use the stored Tax Bracket %, or
enter a tax bracket prior to pressing s p p to
display the estimated annual income tax savings;
the third consecutive press of pwill display the
monthly tax savings; and the fourth press will display
the estimated “after-tax”, or net mortgage payment.
Note: This function is different from the mortgage interest deduc-
tion figured in the Amortization calculation, as it also includes
property tax for a total estimated tax savings and only provides
an annual estimate, not an estimate for a specified range. (See
the akey definition on page 8 for details).
DESKTOP MODEL ONLY:
†Your calculator has a dedicated Tax Savings key
that operates as identified above.

12 — QUALIFIER PLUS®IIIFX
Rent vs. Buy Keys
s P Rent vs. Buy — Calculates a comparable sales
price, loan amount, and mortgage payment versus
the cost of monthly rent. You must enter loan vari-
ables (and a tax bracket via s +), then enter the
prospective buyer’s current rent and press s P.
Consecutive presses of Pwill calculate the com-
parable sales price, loan amount, monthly loan pay-
ment (including tax/insurance, if entered), and esti-
mated annual/monthly income tax savings.
DESKTOP MODEL ONLY:
rYour calculator has a dedicated Rent vs. Buy key
that operates as identified above.
Qualifying Keys
q(Qualify Based on 28%-36%) — A multi-function
key which, based on entered variables, performs the
following pre-qualifying functions:
1) Stores income and debt ratios for loan qualifying.
Ratios are entered using the Colon :key (Income
Ratio :Debt Ratio). For example, income and debt
ratios of 28% and 36%, respectively, are entered
and permanently stored as follows: 2 8 : 3 6
q. Default income and debt ratios for this key are
28% and 36%, respectively. You may change quali-
fying ratios, if desired.
What are Qualifying Ratios?
The income ratio calculates the allowable percent of
income for the total housing payment, while the debt
ratio finds the allowable percentage of income for
the total housing payment, plus long-term debts
(usually 12 months or longer). The conservative rule
is that total housing expenses should be 28% or
less of income, while total housing expense plus
monthly debt should be 36% or less of income.
INCOME RATIO =
TOTAL HOUSING EXPENSE
GROSS MONTHLY INCOME
(Cont’d)

USER’SGUIDE — 13
(Cont’d)
DEBT RATIO =
TOTAL HOUSING EXPENSE + MO. DEBT
GROSS MONTHLY INCOME
Note: Typically, when figuring government loans (FHA/VA), these
formulas also include estimated expenses for maintenance and
utilities (added to the Total Housing Expense for both ratios).
Also, real estate financing and qualifying varies per region and by
lender, who of course, take other factors into consideration, such
as a buyer’s credit and employment history.
2) Calculates the maximum loan amount for
which a buyer may qualify, based on the stored
income and debt qualifying ratios and the entered:
• term
• interest
• annual income
• monthly debt
—and optional—
• annual property tax and insurance
• annual mortgage insurance (Mortgage Insurance
or MI)
• other monthly housing expenses (e.g., home-
owner’s association dues)
The output of this key is as follows:
Press Display or Calculation
1 Displays stored Qualifying Ratios (e.g.,
28%-36%)
2 Restricted/Maximum Qualifying Loan
Amount *
3 Buyer’s Actual Ratios (Income%:Debt%)
4 Unrestricted Qualifying Loan Amount *
5 Maximum Allowable Debt
(Cont’d)

14 — QUALIFIER PLUS®IIIFX
(Cont’d)
*Note: The Maximum Qualifying Loan Amount is the “restricted”
loan amount the buyer may qualify for. This loan amount is
based on whichever of the two ratios — income or debt — limits
the buyer the most. The Unrestricted Qualifying Loan Amount,
however, is the higher loan amount. This loan amount is based
on whichever of the two ratios — income or debt — limits the
buyer the least. In other words, whichever ratio will give the
buyer the highest qualifying loan amount. For this unrestricted
loan amount, the calculator will display the letters “UNR” (for
unrestricted) in the display and the word “INC” or “DEBT” to indi-
cate what ratio side this loan amount was based from
(e.g., income or debt).
This restricted/unrestricted qualifying loan comparison is useful to
show clients what size loan they could qualify for if they paid off
debt or increased income.
3) Calculates the annual income required and
allowable monthly debt for a desired loan amount
or sales price based on the stored income and debt
qualifying ratios and the entered:
• term
• interest
• price (down payment) or loan amount
4) Also finds buyer's actual income and debt
ratios given both buyer and property data. By
default, the first press of qdisplays the stored
qualifying ratios and the second press calculates the
buyer's actual ratios.
Q(Qualify Based on 29%-41%) — Stores additional
Income and Debt ratios (e.g., FHA/VA) and operates
identically to the qkey. Default Income and Debt
ratios for this key are 29% and 41%, respectively.
Note: You can store whatever ratios you desire in the qor
Qkeys.
iIncome — Enters the buyer’s annual income for
loan qualifying. Enters a monthly income when pre-
ceded by the skey (e.g., 5 0 0 0 s i).
DEnters buyer’s long-term, monthly debt (e.g., car
payments, credit cards with large balances/long-
term monthly payments).

USER’SGUIDE — 15
1st & 2nd Trust Deeds (Combo Loan) Keys
The Combo Loan keys show the savings of obtaining a 1st and 2nd
trust deed (TD) loan over a single, fixed-rate loan where mortgage
insurance, or private mortgage insurance (MI), is required.
This routine requires a fixed-rate loan to be entered using the stan-
dard l, p, ˆand/or Tkeys so that a loan comparison can
be made.
*Loan-to-Value Combo Loan for 80:10:10 — This
key provides a loan comparison (see key outputs
below*) of an 80:10:10 combo fixed-rate loan versus
a single, fixed-rate loan requiring mortgage insur-
ance. The stored values are a percentage of the
sales price (e.g., 80:10 identifies that 80% of the
price is covered by the 1st TD, 10% of the price is
covered by the 2nd TD and the remaining 10% is
covered by the down payment).
s * Loan-to-Value Combo Loan for 80:15:5 — The
second function of this key provides a loan compari-
son (see below*) of an 80:15:5 combo fixed-rate
loan versus a single fixed-rate loan requiring mort-
gage insurance. The stored values are a percentage
of the sales price (e.g., 80:15 identifies that 80% of
the price is covered by the 1st TD, 15% of the price
is covered by the 2nd TD and the remaining 5% is
covered by the down payment).
Note: You may also enter any LTV for either *or s *
(80:15:5) Combo Loans keys. For example, to enter a 90:5 LTV,
enter 9 0 : 5 * or 9 0 : 5 s * and continue to
press the *key to find the below values.
**and s * (80:15:5) Key Output:
For a comparison of a fixed-rate combo loan versus
a fixed-rate loan with required mortgage insurance,
each key press (once all other loan values are entered,
including 1st:2nd Interest:Term) will calculate:
(Cont’d)

16 — QUALIFIER PLUS®IIIFX
(Cont’d)
Press Display or Calculation
1 Combo Loan Combined (Blended) Interest
Rate
2 Equivalent Interest Rate of Fixed Rate
Mortgage with Mortgage Insurance
3 Combo Loan Combined (1st/2nd TD)
Payment
4 Equivalent Payment of Fixed Rate Mortgage
with Mortgage Insurance
5 Monthly Savings over Fixed-Rate Loan with
Mortgage Insurance
6 Adjusted 2nd Term (if Savings Applied to
2nd TD)
7 1st Trust Deed Loan Amount
8 2nd Trust Deed Loan Amount
9 1st Trust Deed Payment
10 2nd Trust Deed Payment
11 Displays LTV
!1st TD Interest:Term — Stores the annual interest
and term for the 1st fixed-rate TD. These values are
used when computing the 1st:2nd fixed Combo
Loan. Entry is made using the :key (Interest :
Term). Both interest and term values are required
for a valid entry. Values will be retained until
changed or reset.
s ! 2nd TD Interest:Term — Stores the annual interest
and term for the 2nd fixed-rate TD. Entry is made
using the :key (Interest :Term). Both interest
and term values are required for a valid entry.
Values will be retained until changed or reset.
Cash Flow Keys
The following keys provide quick and easy analysis of cash flow
investment scenarios without all the confusing keys or keystrokes of
typical financial calculators:
cThis key allows the entry of up to 20 cash flows
(either positive or negative; use the s – keys to
label a cash flow as a negative value, or cash outlay).

USER’SGUIDE — 17
s c Frequency (Freq) —The second function of this key
labels a cash flow that is repeated consecutively, or
grouped (e.g., if a cash flow is repeated three times
in a row, first enter the cash flow value into the c
key, then enter the frequency, or number of occur-
rences (3 s c).
Note: to use the Frequency function, a cash flow must repeat
itself consecutively. If it occurs more than once out of order, or
is not consecutive, you must enter it separately, just like other
cash flows (do not use the Frequency function).
RInternal Rate of Return — This multi-function key
calculates, upon consecutive presses:
Press Display or Calculation
1 IRR%*
2 Net Present Value (NPV)**
3 Net Future Value (NFV)
4 Desired Interest Rate (entered prior to cal-
culating, or stored in ˆkey)
*IRR: The rate of return at which the discounted future cash flows
equal the initial cash outlay (C-0). An IRR greater than the desired
rate of return is financially attractive (the higher, the better).
**NPV: Another tool to analyze cash flow scenarios. A positive
NPV indicates that an investment is attractive (again, the higher,
the better).
NPV is computed by adding the initial investment (C-0), a nega-
tive cash outlay, to the present value of the estimated future cash
flows.
Note: If there is no initial investment/cash outlay, enter “0” into the
first cash flow register (C-0).
s R NPV/NFV — If you wish to skip the IRR% calcula-
tion display (see above), press s R to calculate
NPV. Second press calculates NFV.
s 6 Clear Cash Flows (Clear CF) — Deletes all cash
flows. Use this before you begin a new cash flow
example.

18 — QUALIFIER PLUS®IIIFX
BASIC ARITHMETIC EXAMPLES
Arithmetic
This calculator uses standard chaining logic, which simply means
that you enter your first value, the operator (+, –, x, ÷), the sec-
ond value and then the equals sign (=).
A. 3+2= 5.00
B. 3–2= 1.00
C. 3x2= 6.00
D. 3÷2= 1.50
Percentage Calculations
The percent %key can be used for finding a given percent of a
number or for working add-on, discount, or division percentage
calculations.
A. 8 0 0 x 2 5 % = 200.00
B. 2 5 0 + 1 0 % = 275.00
C. 2 5 – 5 0 % = 12.50
D. 2 0 0 ÷ 5 0 % = 400.00
The percent %key has special applications for real estate profes-
sionals — especially when figuring a commission amount.
Figuring Straight Percent Commission
The commission for the listing office is 3%. If the property sells for
$259,650, what is the listing office’s commission?
STEPS KEYSTROKES DISPLAY
Clear calculator o o 0.00
Enter sales price 2 5 9 6 5 0 259,650.
Multiply by commission % x 3 % = 7,789.50
— DO NOT CLEAR CALCULATOR —
What if the listing agent works on a 50/50 split with his or her bro-
ker? What is the listing agent’s share of this commission?
STEPS KEYSTROKES DISPLAY
Multiply by 50% x 5 0 % = 3,894.75

USER’SGUIDE — 19
Reduction in Listing Price (Discount %)
A nervous seller has had her property on the market for just over
four months listed at $175,500. Because she is anxious to move into
a new home, she wishes to reduce the listing price by 5%. Calculate
both the amount of reduction in dollars and the new, lowered listing
price.
STEPS KEYSTROKES DISPLAY
Clear calculator o o 0.00
Enter sales price 1 7 5 5 0 0 175,500.
Subtract 5% – 5 % 8,775.00
Find new listing price =166,725.00
Simple 1-Year Home Appreciation (Add-on %)
Properties in your area have been going up in value about 6% per
year. If you purchase a $275,000 home today, what will it be worth in
one year, assuming the same rate of appreciation continues?
STEPS KEYSTROKES DISPLAY
Clear calculator o o 0.00
Enter current value 2 7 5 ) 275,000.
Add 6% + 6 % 16,500.00
Find appreciated value =291,500.00
Note: See page 43 for another example of future value or appreciation.