af1688

Mortgage Loan Calculator

Desktop Model: AF-1688

This Desktop Size (4" X 6.5") Mortgage Loan
Calculator is super easy to operate and designed
for home or office use. It answers your client's most
asked question "How much is my monthly payment
(PMT)?" in just second. It also calculates PITI.

Perfect for Office or Home
application.

Specifications:

-        PMT, PITI Calculations
-        10 digits display
-        One CR2032 cell button battery
-        Size: 4" X 6.5"
-        Display Size: 89mm X 23.5 mm
-        Rotatable Display

L/A      = Loan Amount, also known as Principal;
Term   = The number of years given to repay the loan;
Rate    = Annual interest rate for the loan;
PMT    = Equal monthly amortized loan payment amounts including Principal and Interest.
Tax      = Annual property tax value.
Ins       = Annual property insurance.
PITI    = Principal, Interest, Tax, and Insurance.

Easy Like 1-2-3...         Simple Like A-B-C...

Scenario     Find the monthly payment for a 30-year, $300,000 mortgage loan at an annual interest rate of 5.875%.
1.        Clear any previous values.                       Press [ON/C]
2.        Enter the $300,000 loan amount.             Press 300,000 [L/A]
3.        Enter the 5.875% annual interest rate       Press 5.875 [Rate]
4.        Enter the 30-year term        .                    Press 30 [Term]
5.        Find the monthly payment amount.           Press [PMT]
Monthly payment amount displayed:                   1’774.61

Scenario        Now, recalculate the monthly payment for the same loan over a 15-year term.

1.         Clear the previous payment value.       Press [ON/C]
2.         Enter the new 15-year term.                Press 15 [Term]
3.         Find the new payment amount.            Press [PMT]
New payment amount displayed:         2’511.36

Scenario       Find the monthly PITI for a 30-year, $300,000 mortgage loan at an annual interest rate of 5.875%.
Annual property tax is $600, and annual property insurance is $600.
After obtaining the PMT result, enter the values for [Tax] and [Ins], then press [PITI].

PMT value displayed:                                        1’774.61
1.        Enter the annual property tax value of $600        Press 600 [Tax]
2.        Enter the annual property insurance of $600       Press 600 [Ins]
3.        Find the PITI amount                                         Press [PITI]
PITI displayed:                                                  1’874.61

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