Calculated Industries 3405 - 80:15:5 Combo Loan Vs. Fixed-Rate Loan with Mortgage Insurance

POCKET REFERENCE GUIDE — 37
80:15:5 Combo Loan vs. Fixed-Rate
Loan with Mortgage Insurance
Compare an 80:15:5 Combo Loan vs. a
Fixed-Rate loan w/mortgage insurance.
The loan parameters are:
FIXED COMBO
w/PMI 1st/2nd)
Loan 350,000 350,000
Interest 6.00% 5.25% –
7.0%
Term 30 30 year–
15 year
PMI 0.62% --
LTV 95% 80% –
15%
STEPS KEYSTROKES DISPLAY
1. Enter Fixed-Rate Loan Values and
Find Total Payment:
Clear o o 0.00
Enter loan 3 5 0 ) l
350,000.00
Enter interest 6 ˆ 6.00
Enter term 3 0 T 30.00
Enter MI% • 6 2 s I 0.62
Clear Tax* 0 t 0.00
(Cont’d)
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