Calculated Industries 3430 User manual

QUALIFIER PLUS®IIIFX
ADVANCED REAL ESTATE FINANCE
CALCULATOR with CASH FLOW
and COMPLETE BUYER QUALIFYING
Model 3430
Pocket Reference Guide

The QUALIFIER PLUS IIIFX lets you pre-qual-
ify clients and compute financial problems
with ease!
Quickly Solve:
• Time-Value-of-Money (TVM) Problems:
Find Loan Amount, Term, Interest,
Payment, Future Value
• Restricted/Unrestricted Qualifying
• Required Income/Debt
• Qualifying Using Flexible Ratios
• Property Tax and Insurance, Mortgage
Insurance
• P&I and PITI payment
• Sales Price and Down Payment
• Adjustable-Rate Mortgages
• Amortization and Remaining Balance
• Bi-Weekly Loans
• Date Math Problems
New!
• 80:10:10/80:15:5 Combo loans
• APR, including Mortgage Insurance
• Cash Flow/Investment Keys
• Income Tax Savings and Rent vs. Buy
• Interest-Only Payments
• LTV, Month Offset, Prepaid Interest
QUALIFIER PLUS®IIIFX

KEY DEFINITIONS..................................4
EXAMPLES ...........................................10
Date Example ....................................10
Monthly Mortgage (P&I) Payment .....10
Loan Amount......................................11
Loan Amount Based on Sales Price
and Down Payment.........................12
Interest Rate ......................................12
Term of a Loan ..................................13
Setting Tax and Insurance.................14
PITI Payment, Total Payment and
Interest-Only Payment.....................15
Quarterly Payment.............................16
Amortization.......................................17
Bi-Weekly Loans................................18
Appreciation.......................................19
Retirement Savings ...........................20
APR and Total Finance Charges,
Including Mortgage Insurance.........21
ARM Payment — Lifetime Cap .........22
Estimated Tax Savings ......................24
Rent vs. Buy ......................................25
Setting Qualifying Ratios ...................26
Qualifying Loan Amount ....................26
“Restricted” vs. “Unrestricted”
Qualifying.........................................28
TABLE OF CONTENTS

Qualifying Comparison (2 Ratios at
Once)...............................................31
Income Required and Allowable
Monthly Debt ...................................33
80:10:10 Combo Loan vs. Fixed-Rate
Loan with Mortgage Insurance........35
Cash Flow..........................................38
APPENDIX ............................................40
Default Settings .................................40
Decimal Place Setting .......................40
Preference Settings ...........................41
Batteries.............................................41
Reset .................................................41

POCKET REFERENCE GUIDE — 1
Note: This is a short “reference” guide. Please
see your Large User’s Guide for details.
:Colon separator (used for
date, ARM adjustment,
qualifying ratios and
combo loans)
bBackspace key; for back-
ing up/deleting wrong entry
®Recalls or re-displays a
value when followed by a
chosen key (e.g., ® ˆ
will display current interest
value)
μMemory Function:
- μAdds value on
display to Memory
- s μ Subtracts value
on display from Memory
- ® μ Recalls Memory
Total
- ® ® Recalls and
clears Memory Total
KEY DEFINITIONS

POCKET REFERENCE GUIDE — 2
sSets number of displayed
decimal places and acti-
vates 2nd functions
s – Change sign
s x Clear All (Note: perform
with caution as it will reset
calculator to defaults)
s = Preference mode (see
Large User’s Guide for
details)
s ÷ Payments per year
(Default 12, for monthly)
s b Periodic (sets per Period
rather than per Year)
s ) Month offset
s : Odd-days interest
s + Tax bracket %
s p Estimated income tax sav-
ings/after-tax payment
s P Rent vs. Buy
lLoan amount
pP&I, PITI, total payment,
and interest-only payment

POCKET REFERENCE GUIDE — 3
TNumber of years
ˆAnnual interest rate or
cash flow desired rate of
return
s l Future value
s ˆ APR (annual percentage
rate), including mortgage
insurance, if entered
PProperty price
dDown payment
s T Bi-Weekly loan
aAmortization function
s a Remaining balance
AAdjustable-rate mortgage
s A ARM decreasing interest
% adjustment
s % ARM lifetime interest cap%
qQualify based on
28%-36%
QQualify based on
29%-41%
iAnnual income

POCKET REFERENCE GUIDE — 4
DLong-term, monthly debt
(e.g., car payment)
s 7 Property tax (enter as per-
cent or dollar amount)
s 8 Property/homeowner’s
insurance (enter as per-
cent or dollar amount)
s 9 Mortgage insurance (enter
as percent or dollar amount)
eMonthly expenses (such
as homeowner’s associa-
tion dues)
s d For entering (or finding)
Loan-to-Value ratio and
computing respective
Down Payment and/or
Loan Amount
!Used to enter 1st TD
interest:term for Combo
Loans
s ! Used to enter 2nd TD
interest:term for Combo
Loans

POCKET REFERENCE GUIDE — 5
*Combo loan function for an
80:10:10 LTV* loan; calcu-
lates 1st/2nd TD values
and compares them to
entered fixed-rate loan
w/mortgage insurance.
*You may enter any LTV
prior to pressing this key
(e.g., LTV of 90:5, enter 9
0 : 5 *).
s * Combo loan function for an
80:15:5 loan; same func-
tion as above key
cAllows entry of up to 20
cash flows. Use the s
–to label as positive or
negative
s c Frequency — labels a cash
flow that is consecutively
repeating

POCKET REFERENCE GUIDE — 6
RMulti-function key that
computes, upon consecu-
tive presses: IRR%, NPV
& NFV used for cash flow
analysis. (The greater the
IRR and NPV, the more
attractive the investment)
s 6 Clear cash flows