Loading ...
Loading ...
Loading ...
U
SER
’
S
G
UIDE
— 67
(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 * 8.05
Find equivalent interest rate of
fixed-rate loan with mortgage
insurance/MI * 9.95
Find total combined (1st/2nd)
payment * 764.70
Find equivalent payment of
fixed-rate loan with MI * 873.64
Find monthly savings over fixed-rate
loan with MI * 108.94
Find adjusted 2nd term (if savings
applied to 2nd TD) * 2.83
Find 1st TD loan amount
* 94,736.84
Find 2nd TD loan amount
* 5,263.16
Find 1st TD monthly
payment * 695.15
Find 2nd TD monthly
payment * 69.55
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 *
).
Loading ...
Loading ...
Loading ...