09-16-2018, 10:31 PM
The program presented in today's blog entry will calculate the qualifying loan amount given the following:
* Loan's annual interest rate and term (in years)
* The borrower's monthly gross income
* The borrower's monthly non-property related debt (credit cards, auto loans, store bought appliances on credit, etc). Do not include utilities or phone bills.
* The estimated monthly property tax and insurance. For this program, combine the two amounts.
Before running the program, store the following amounts in the following registers:
R0: Monthly Income
R1: Monthly Debt
R2: Monthly Property Taxes and Insurance
R3: Annual Interest Rate
R4: Term
The down payment is not taken into consideration.
The result is the loan amount using the standard 28:36 ratio (stored in register R5). The 28:36 ratio is the guideline that the borrower spends no more than 28% of their income on housing expenses, and no more than 36% of their income on all debt service.
Program:
Blog Entry: http://edspi31415.blogspot.com/2018/09/h...-loan.html
* Loan's annual interest rate and term (in years)
* The borrower's monthly gross income
* The borrower's monthly non-property related debt (credit cards, auto loans, store bought appliances on credit, etc). Do not include utilities or phone bills.
* The estimated monthly property tax and insurance. For this program, combine the two amounts.
Before running the program, store the following amounts in the following registers:
R0: Monthly Income
R1: Monthly Debt
R2: Monthly Property Taxes and Insurance
R3: Annual Interest Rate
R4: Term
The down payment is not taken into consideration.
The result is the loan amount using the standard 28:36 ratio (stored in register R5). The 28:36 ratio is the guideline that the borrower spends no more than 28% of their income on housing expenses, and no more than 36% of their income on all debt service.
Program:
Code:
STEP KEY KEY CODE
01 LBL E 61, 41, E
02 FIX 2 51, 33, 2
03 RCL 0 22, 0
04 × 55
05 3 3
06 6 6
07 % HP 20S: 51,14 HP 21S: 51, 53
08 = 74
09 - 65
10 RCL 1 22, 1
11 = 74
12 STO 6 21, 6
13 RCL 0 22, 0
14 × 55
15 2 2
16 8 8
17 % HP 20S: 51,14 HP 21S: 51, 53
18 = 74
19 STO 7 21, 7
20 RCL 6 22, 6
21 INPUT 31
22 RCL 7 22, 7
23 X≤Y? 61, 42
24 SWAP 51, 31
25 STO 8 21, 8
26 RCL 2 22, 2
27 STO - 8 21, 65, 8
28 1 1
29 - 65
30 ( 33
31 1 1
32 + 75
33 RCL 3 22, 3
34 ÷ 45
35 1 1
36 2 2
37 0 0
38 0 0
39 ) 34
40 Y^X 14
41 ( 33
42 1 1
43 2 2
44 +/- 32
45 × 55
46 RCL 4 22, 4
47 ) 34
48 = 74
49 ÷ 45
50 ( 33
51 RCL 3 22, 3
52 ÷ 45
53 1 1
54 2 2
55 0 0
56 0 0
57 ) 34
58 = 74
59 × 55
60 RCL 8 22, 8
61 = 74
62 STO 5 21, 5
63 RTN 61, 26
Blog Entry: http://edspi31415.blogspot.com/2018/09/h...-loan.html