U
SER’S GUIDE — 73
(Cont’d)
STEPS KEYSTROKES DISPLAY
3. Find 90:5:5 Combo Loan and Comparison Values (vs. Fixed-Rate
Loan with Mortgage Insurance):
Enter LTV and find 1st:2nd blended
interest rate 9 0 : 5 * “run” 7.11
Find equivalent interest rate of
fixed-rate loan with MI * “run” 7.61
Find total combined (1st/2nd)
payment * 672.64
Find equivalent payment of
fixed-rate loan with MI * 706.97
Find monthly savings over
fixed-rate loan with MI * 34.33
Find adjusted 2nd term (if savings
applied to 2nd TD) * “run” 8.06
Find 1st TD loan amount * 94,736.84
Find 2nd TD loan amount
* 5,263.16
Find 1st TD monthly
payment * 630.29
Find 2nd TD monthly
payment * 42.35
Re-display LTV * 90.00-5.00
Note: an entered LTV is not stored; in order to re-calculate a Combo Loan based on a
different LTV than 80:10:10 or 80:15:5, you will need to enter the LTV prior to press-
ing * (or s *).
To Next Page
Loading...
Need help?
General
