Installation:

TIP: Print this page for easier reference.

How to install the Pocket Loan Qualifier on your PC.

1. When you start the Pocket Loan Qualifier installation you will see this screen. Click on the "NEXT>" button.
   
   
   
   
2. Specify the folder to unpack the files to. We recommend you accept the default location of C:\Palm\PocketLoanQual. Click Next.
   
   
   
   
   
3. When complete, you will see the message shown below.
   Click Finish to exit installer.
   
   
   
   

Using the Palm Desktop to complete the installation to your Palm device.

Note: You must have the Palm Desktop application installed on your Windows 95, 98, Me, 2000, NT or XP to continue. This software came with your Palm device.

1. Start your Palm Desktop program by double-clicking the icon (located on your Windows Desktop).
   
   
   
   
2. Next, click the Install icon (located on the left toolbar).
   
   
   
   
3. In the Install Tool screen, click the Add button.
   
   
4. In the Open dialog box, click the button once and locate the PocketLoanQual folder. Double-click this folder to open it. Select the LoanQual.prc and MathLib.prc then click Done.
   (To select both files at the same time hold down your Ctrl key while selecting.)
   
   
   
5. Click OK on the message below.
   
   
   
   
6. Next, start your Palm device and make sure you are connected. Click on the HotSync icon and then click on the HotSync symbol.
   
   
   
   
7. Once completed, the Pocket Loan Qualifier icon will appear.
   
   
8. To start the program tap on the LoanQual icon.
   
9. The Pocket Loan Qualifier Registration screen will appear (shown below).
   

• To register - enter the registration code, then tap the Register button. Note that the letters PLQ are part of the registration number and must be included.

Operating:

Using either the down arrow or the EDIT button, select or enter your value.

Property Price:
The price to be paid for the property.

Interest Rate:
The annual percentage interest rate.

Down payment:*
Use the down arrow to select the percentage of Property Price or click on Edit to enter in a dollar value.

PMI:*
Private Mortgage Insurance.
Use the down arrow to select the percentage of Property Price or click on Edit to enter in a dollar value.

Tax:*
Use the down arrow to select the percentage of Property Price or click on Edit to enter in a dollar value.

Insurance:*
Use the down arrow to select the percentage of Property Price or click on Edit to enter in a dollar value.

Term Years:
The term of the mortgage.

* These four items show both percentage of Property Price and a dollar value. If you change any item (such as Property Price) that causes these items to recalculate - the dollar value will stay the same while the percentage is recalculated.

Using either the down arrow or the EDIT button, select or enter your value.

Front Qual Ratio :
Gross income to loan ratio. (set by lender)

Back Qual Ratio :
Net income to loan ratio. (Set by lender)

Monthly Income :
The borrower's gross monthly income.

Monthly Expenses :
The borrower's fixed monthly expenses.

Points : The number of points required.

Fees : The amount of transfer fees.