Calculated Industries 3405-B User Manual
R
EALESTATEMASTER
®
III
X
RESIDENTIAL REAL ESTATE
FINANCE CALCULATOR
Model 3405
Pocket Reference Guide
POCKET REFERENCE GUIDE — 1
The
REAL ESTATE MASTER IIIX
calculator
lets you perform mortgage loan and
financing problems with ease!
Quickly Solve:
• Time-Value-of-Money (TVM) Problems:
Find Loan Amount, Term, Interest,
Payment, Future Value
• Property Tax, Homeowner’s Insurance,
Mortgage Insurance
• P&I, PITI & Interest-Only Payments
• Sales Price and Down Payment
• Rent vs. Buy
• Estimated Income Tax Savings/Deduction
• Adjustable Rate Mortgages (ARMs)
• Amortization and Remaining Balance
• Bi-Weekly Loans
• Date Math Problems
• New! APR, including MI
• New! 80:10:10/80:15:5 Combo Loans
REAL ESTATE MASTER®IIIX
POCKET REFERENCE GUIDE — 2
KEY DEFINITIONS .................................4
Preference Settings —
How to
Access
...............................................9
EXAMPLES...........................................11
Memory —
Add/Subtract/Multiply
......11
Memory/Storage Registers ................12
Finding Commission..........................12
Reduction of Listing Price..................13
Date of Escrow Closing.....................13
Monthly Mortgage (P&I) Payment.....14
Term of a Loan ..................................14
Interest Rate......................................15
Loan Amount.....................................15
Loan Amount Based on Sales Price
and Down Payment.........................16
Loan-to-Value....................................16
Setting Tax and Insurance.................17
P&I, PITI and Interest-Only
Payments.........................................18
Quarterly Payment.............................19
Estimated Tax Savings......................20
Rent vs. Buy......................................21
ARM Payment —
Increasing and
Decreasing Payments
.....................22
Amortization —
Using “Next” Feature
..24
TABLE OF CONTENTS
POCKET REFERENCE GUIDE — 3
Amortization for Individual Year(s)—
Month Offset, Tax Bracket Change
...26
Balloon Payment/Remaining
Balance............................................28
APR and Total Finance Charges,
Including Mortgage Insurance.........29
Prepaid (Odd-Days) Interest and APR,
Including Mortgage Insurance.........30
Appreciation/Future Value.................32
Bi-Weekly Loans................................33
80:10:10 Combo Loan vs. Fixed-Rate
Loan with Mortgage Insurance ........34
80:15:5 Combo Loan vs. Fixed-Rate
Loan with Mortgage Insurance ........37
APPENDIX ............................................40
Default Settings.................................40
Decimal Place Setting .......................40
Batteries.............................................41
Reset .................................................41
Legal Notes .......................................41
POCKET REFERENCE GUIDE — 4
: Colon separator (used for
dates, ARMs, Amortization
ranges, and Combo loans)
b Backspace 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)
µ Memory Function:
- µ Adds value on display to Memory
- s µ Subtracts value
on display from Memory
- ® µ Recalls Memory
Total
- ® ® Recalls and
clears Memory Total
s Sets number of displayed
decimal places and activates 2nd functions
s – Change sign
KEY DEFINITIONS
POCKET REFERENCE GUIDE — 5
s x Clear All
(Note: perform
with caution as it will
clear/reset stored values)
s = Preference mode (see pg.
9 for details)
s ÷ Payments per year
(Default 12, for monthly)
s b Periodic (identifies entry as
periodic instead of yearly)
s ) Month offset
s : Odd-days interest
s + Tax bracket %
s p Estimated tax
savings/after-tax payment
s P Rent vs. buy
l Loan amount
p P&I, PITI and interest-only
payment
T Number of years
ˆ Annual interest rate
s l Future value
POCKET REFERENCE GUIDE — 6
s ˆ APR (annual percentage
rate), including mortgage
insurance, if entered
P Sales price of property
d Down payment
s T Bi-Weekly loan
a Amortization function
s a Remaining balance
A Adjustable-rate mortgage
s A ARM decreasing interest
% adjustment
s % ARM lifetime interest cap
t Property tax (enter as per-
cent or dollar amount)*
I Property/homeowner’s
insurance (enter as percent or dollar amount)*
POCKET REFERENCE GUIDE — 7
s I Mortgage insurance (enter as
percent or dollar amount)*
*Note: Once Tax/Insurance
% (or $) values are entered
— as well as TVM values
— the second press of
t I
, or press of
s
I I
will compute the $
(or %); third press finds
monthly amounts
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 — 8
* Combo loan function for an
80:10:10 LTV loan; calculates 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 function as above key
POCKET REFERENCE GUIDE — 9
Preference Settings —
How to Access
Press
s
, then =, then keep pressing
=
to toggle through the main settings.
Press the
+
key to advance within sub-
setting. Use the
–
key to back up. Press
any key to exit mode.
Press s and then:
1st press
of = Decimal Places:
--Off 0.00 (returns to 2
decimal places @ Off)
+ --Permanently holds
decimal place setting
2nd press = Payments Per Year:
--Returns to 12 @ Off)
+ --Holds payments/year
3rd press = Tax/Ins.(Cleared or
Stored):
--Clears T&I ($ or %)
values @ Off
+ --Permanently holds only
T&I %
+ --Permanently holds T&I
($ OR %)
+ --Clears T&I ($ or %) @
o o
(Cont’d)
POCKET REFERENCE GUIDE — 10
(Cont’d)
4th press = Mortgage Insurance
(Cleared or Stored):
--Clears MI ($ or %) @
o o
+ --Clears MI ($ or %) @ Off
+ --Holds only MI % at Off
+ --Holds MI ($ or %)
5th press = Amortization Display
Range:
--ENT-ENT (amortizes for
entered year)*
+ --1-ENT (amortizes from
beginning to entered
year)**
6th press = Qualifying Ratios:
--Display at first press of
q or Q keys
+ --Display at end of qualify-
ing sequence
*e.g.,
5 a
amortizes for payment numbers
49-60 (only 5th year)
**e.g.,
5 a
amortizes for payment numbers
1-60 (years 1-5)
POCKET REFERENCE GUIDE — 11
Memory —
Add/Subtract/Multiply
Add 1,500 and 2,650 to the cumulative
Memory (M+). Compute subtotal, then
subtract 2,000 and find total.
STEPS KEYSTROKES DISPLAY
Clear o o 0.00
Add 1st # 1 5 0 0 µ M 1,500.00
Add 2nd# 2 6 5 0 µ M 2,650.00
Find total ® µ M 4,150.00
Subtract 2 ) s µ
M 2,000.00
Find total and clear
Memory ® ® 2,150.00
Store 55 and multiply by 40. Then recall
Memory Total and multiply it by 60.
STEPS KEYSTROKES DISPLAY
Clear o o 0.00
Store 55 5 5 µ M 55.00
Multiply x 4 0 = M 2,200.00
Recall 55 ® µ M 55.00
Multiply x 6 0 = M 3,300.00
Clear Memory ® ® 55.00
EXAMPLES
POCKET REFERENCE GUIDE — 12
Memory/Storage Registers
Store 10, 20, 30 into Memory Storage
keys M0-M2 and recall each value. Then
clear all stored numbers.
STEPS KEYSTROKES DISPLAY
Clear o o 0.00
Store 1st # 1 0 s ® 0
M-0 10.00
Store 2nd # 2 0 s ® 1
M-1 20.00
Store 3rd # 3 0 s ® 2
M-2 30.00
Recall 1st # ® 0 M-0 10.00
(Repeat for 1and 2)
Clear All s x
“All Cleared”
0.00
Note: There are additional Storage Registers
s ® 3, 4, 5
and 6. You cannot store
more than one value in the Storage Registers.
Finding Commission
If a property sells for $535,000 and your
commission rate is 2%, what is your commission in dollars?
STEPS KEYSTROKES DISPLAY
Clear o o 0.00
Enter loan 5 3 5 ) x 2 % =
10,700.00
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