Texas instruments BA REAL ESTATE WORKSHEETS

BA Real Estate

WORKSHEETS

These worksheets are provided as a convenience only. The user is responsible for accuracy and for compliance with any applicable laws and regulations regarding notices and disclaimers that may be required on such forms or any other applicable laws and regulations.

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Table of Contents

Mortgage Payment—Principal and Interest .............................................................................................................. 3

Calculating Unpaid Balance on an Existing Mortgage............................................................................................. 4

Paying Off a Loan Early by Making Larger Payments.............................................................................................. 5

Calculating a Balloon Payment to Retire a Mortgage .............................................................................................. 6

Calculating Monthly Payment for a Mortgage with a Balloon Payment................................................................ 7

Time Required to Reduce a Loan to a Specific Amount .......................................................................................... 8

PITI—Principal, Interest, Tax, and Insurance Based on Annual Tax and Insurance Amounts ........................ 9

PITI—Principal, Interest, Tax, and Insurance Based on Tax and Insurance Percents .................................... 10

Bi-Weekly Mortgage Payments ................................................................................................................................. 11

Adjustable Rate Mortgage.......................................................................................................................................... 12

Adjustable Rate Mortgage vs. Fixed-Rate Mortgage .............................................................................................. 13

Adjustable Rate Mortgage vs. Fixed-Rate Mortgage (Continued)........................................................................ 14

Payment and Remaining Balance on a Canadian Mortgage.................................................................................. 15

Amortization Schedule............................................................................................................................................... 16

Amortization for a Specific Range of Payments ..................................................................................................... 17

Finding Qualifying Loan Amount Based on Tax, Insurance, and Down Payment Percents............................ 18

Finding Qualifying Loan Amount Based on Tax and Insurance Percents and Down Payment Amount ....... 19

Finding Qualifying Loan Amount Based on Tax and Insurance Amounts and Down Payment Percent ....... 20

Finding Qualifying Loan Amount Based on Tax, Insurance, and Down Payment Amounts ........................... 21

Finding Qualifying Income Based on Tax, Insurance, and Down Payment Percents ...................................... 22

Finding Qualifying Income Based on Tax and Insurance Percents and Down Payment Amount.................. 23

Finding Qualifying Income Based on Tax and Insurance Amounts and Down Payment Percent.................. 24

Finding Qualifying Income Based on Tax, Insurance, and Down Payment Amounts...................................... 25

Finding Maximum Allowable Debt........................................................................................................................... 26

Net Cost of Housing Based on Tax and Insurance Percents................................................................................ 27

Savings Account with One Deposit .......................................................................................................................... 28

Savings Account with Regular Deposits .................................................................................................................. 29

Appreciation ................................................................................................................................................................ 30

Total Percent Change/Appreciation Rate ................................................................................................................ 30

Per-Period Percent Change/Appreciation Rate....................................................................................................... 30

Estimate of Appreciated Value ................................................................................................................................. 30

Interest Conversion .................................................................................................................................................... 31

From Effective to Nominal........................................................................................................................................ 31

From Nominal to Effective........................................................................................................................................ 31

Annual Percentage Rate Considering Points and Fees.......................................................................................... 32

Monthly Payment and APR of a Refinanced Loan.................................................................................................. 33

Finding the Purchase Price of a Note to Meet a Required Yield ......................................................................... 34

Yield of a Discounted Mortgage................................................................................................................................ 35

BA Real Estate™ Worksheets

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Mortgage Payment—Principal and Interest

1. Clear TVM values (if not already cleared).

2. Enter sales price.

3. Subtract down payment.

4. Calculate and enter loan amount.

5. Enter term of loan (in years).

6. Enter interest rate.

7. Compute payment amount.

# -

$ 3

Prepared for ________________________________ By _________________________ Date ____________

BA Real Estate™ Worksheet

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Calculating Unpaid Balance on an Existing Mortgage

1. Clear TVM values (if not already cleared).

2. Enter original term of loan (in years).

3. Enter interest rate.

4. Enter original loan amount.

5. Compute payment.

6. Enter number of payments made.

7. Compute unpaid balance.

Note:

You also can use the Amortization key to calculate unpaid balance. The answer may be slightly different, due to rounding differences between the two methods.

# -

$ 3

# *

$ 4

Prepared for ________________________________ By _________________________ Date ____________

BA Real Estate™ Worksheet

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Paying Off a Loan Early by Making Larger Payments

1. Clear TVM values (if not already cleared).

2. Enter term of loan (in years).

3. Enter interest rate.

4. Enter loan amount.

5. Compute monthly payment.

6. Add extra payment amount (as a negative amount).

7. Calculate and enter new, larger payment.

8. Compute new term.

# -

$ 3

j 3

$ 0

Prepared for ________________________________ By _________________________ Date ____________

BA Real Estate™ Worksheet

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Calculating a Balloon Payment to Retire a Mortgage

1. Clear TVM values (if not already cleared).

# -

2. Enter term of loan (in years).

3. Enter interest rate.

4. Enter loan amount.

5. Compute payment amount and round the result.

$ 3

6. Enter the number of payments made.

7. Compute unpaid balance.

$ 4

8. Add payment computed in line 5.*

a ] 3

9. Calculate the balloon payment.

The balloon payment includes both the unpaid balance (step 7) and the final monthly payment.

# n 3

# *

Comment:

Another school of thought is to omit steps 8 and 9 and simply calculate an unpaid balance as the balloon payment. The only difference between the two results is the amount of the final monthly payment.

Prepared for ________________________________ By _________________________ Date ____________

BA Real Estate™ Worksheet

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Calculating Monthly Payment for a Mortgage with a Balloon Payment

1. Clear TVM values (if not already cleared).

2. Enter term of loan (in years).

3. Enter interest rate.

4. Enter loan amount.

5. Enter amount of balloon payment, as a negative value.

6. Compute monthly payment.

# -

t 4

$ 3

Prepared for ________________________________ By _________________________ Date ____________

BA Real Estate™ Worksheet

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Time Required to Reduce a Loan to a Specific Amount

1. Clear TVM values (if not already cleared).

2. Enter term of loan (in years).

3. Enter interest rate.

4. Enter loan amount.

5. Compute monthly payment.

6. Enter amount (as a negative value) that the principal will be reduced to.

7a. Compute the number of years required to reduce

the principal, or see step 7b.

7b. Compute the number of payments required to

reduce the principal.

# -

$ 3

$ 0

$ # *

t 4

years

# of payments

Prepared for ________________________________ By _________________________ Date ____________

BA Real Estate™ Worksheet

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PITI—Principal, Interest, Tax, and Insurance Based on Annual Tax and Insurance Amounts

1. Clear TVM values (if not already cleared).

# -

2. Enter annual tax amount.

3. Add annual insurance amount.

4. Calculate and enter total tax and insurance.*

5. Enter term of loan (in years).

6. Enter interest rate.

7. Enter loan amount.

# E

8. Compute payment (principal and interest).

$ 3

9. Compute PITI.

$ &

The calculator uses the TAX&INS$ amount, ignoring the TAX% and INS% settings. TAX% and INS% are used only when TAX&INS$ is zero.

Prepared for ________________________________ By _________________________ Date ____________

BA Real Estate™ Worksheet

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PITI—Principal, Interest, Tax, and Insurance Based on Tax and Insurance Percents

1. Clear TVM values (if not already cleared).

2. Enter local property-tax rate (if not already

# -

# Z

entered).

3. Enter local insurance rate (if not already

# Q

entered).

4. Enter price.*

5. Enter term of loan (in years).

6. Enter interest rate.

7. Enter loan amount.

8. Compute payment (principal and interest).

$ 3

9. Compute PITI.

$ &

You can omit this step. If you do, however, the tax and insurance amounts will be computed as percentages of the loan amount, rather than the sales price of the property. This could result in underestimating PITI.

Prepared for ________________________________ By _________________________ Date ____________

BA Real Estate™ Worksheet

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Bi-Weekly Mortgage Payments

1. Clear TVM values (if not already cleared).

2. Enter term of loan (in years).

3. Enter interest rate.

4. Enter loan amount.

5. Start Bi-Weekly and view the bi-weekly payment amount.

6. View the number of bi-weekly payments (N) required to pay off loan.

7. View the number of years (YRS) required.

8. View the interest saved at the end of the term by making bi-weekly payments instead of monthly payments.

# -

Prepared for ________________________________ By _________________________ Date ____________

BA Real Estate™ Worksheet

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