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BEAR-TOC.DOC BA Real Estate Guidebook Bob Fedorisko Revised: 08/29/96 9:20 AM Printed: 09/28/99 1:22 PM
Page 3 of 2
Getting Started ....................................................................... 5
FInding the Monthly Payment on a Loan ............................ 6
Calculating Total Payment (PITI) ........................................ 7
Amortization for the First Year ............................................ 8
Finding a Pay-off Balance ..................................................... 9
Changing the Conditions of the Loan ................................ 10
Estimating Appreciation...................................................... 11
Qualifying a Buyer for a Loan............................................. 12
Going Further ....................................................................... 14
The Time-Value-of-Money (TVM) Model ........................... 16
Changing TVM Settings ....................................................... 17
Setting Default Rates for Your Area .................................. 18
Calculating Down Payments............................................... 19
Computing a Monthly Mortgage Payment......................... 20
Finding the Unpaid Balance on a Mortgage...................... 22
Paying Off a Loan with Larger Payments.......................... 24
Calculating a Balloon Payment .......................................... 26
Finding the Payment for a Mortgage with a Balloon ....... 28
Total Payment Including Taxes and Insurance (PITI)..... 29
Computing Total Payment (PITI)....................................... 30
Adjustable-Rate Mortgage (ARM) ...................................... 32
Finding Periodic Payments for an ARM ............................ 33
Comparing an ARM to a Fixed-Rate Mortgage................. 36
Bi-Weekly Mortgage Payments........................................... 40
Calculating a Mortgage with Bi-Weekly Payments .......... 42
Finding the Balance on a Canadian Loan.......................... 44
Amortization (AMORT) ....................................................... 46
Finding the Principal and Interest Paid............................. 47
Buyer Qualification: Maximum Loan Amount .................. 52
Buyer Qualification: Minimum Income Required............. 53
Finding the Qualifying Loan Amount................................. 54
Finding the Minimum Income Required............................ 56
Finding the Maximum Allowable Debt.............................. 58
Finding the Net Cost of Housing ........................................ 60
Table of Contents
This guidebook begins with a section designed to help
you quickly learn about the BA Real Estate
TM
calculator
and its capabilities. The remainder of the book contains
examples of and information about specific kinds of
financial calculations. General calculator operation and
service information are discussed in the Appendix.
Getting Started
Chapter 1:
Mortgages and
Amortization
Chapter 2:
Buyer
Qualification
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