*C01
[ NAME OF LOAN ]

Enter a name for this loan.  If the loan is saved on a  disk, its
file will have this name with a ".flp" extension.  The  name  can
consist of up to 8 characters.

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*C02
[ AMOUNT BORROWED ]

Enter the amount of money borrowed prior to addition of points or
other fees.  The maximum amount  that  can  be  entered  here  is
$999,999,999.99.

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*C03
[ TERM ]

Enter the length of time in months that it take to  pay  off  the
loan.  Normally the term will be 360  months  (30 years)  or  180
months (15 years), but up to 800 months may be entered  for  most
loans, or 368 months for biweekly loans.

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*C04
[ PAYOFF TIME ]

This value defaults to the term value for normal  loans.  If  the
loan is a balloon loan enter  the  number  of  months  after  the
origination date that the final balloon payment is due.  The pay-
off time cannot exceed the term.

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*C05
[ INTEREST RATE ]

Enter the nominal interest rate.  This value is the initial int- 
erest before any  additional  fees have  been added  to the  loan
amount.  Note that this  value is  merely the  starting  interest
if the loan is an adjustable loan,  and  it  will  be  subject to
periodic changes.  The annual percentage rate (APR), or effective
rate, shown below takes into account any closing costs or fees   
that are added to the amount borrowed, and, thus, might be great-
er than the nominal rate.   The  maximum  interest  that  can  be
entered is 99.999%.

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*C06
[ ORIGINATION DATE ]

Enter the date on which the loan becomes effective.

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*C07
[ FIRST PAYMENT DATE ]

This entry is the date on which the first  payment  is  due.  The
first payment date will default to one month after  the  origina-
tion date, but any date which occurs after the origination  date
can be entered.

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*C08
[ PAYMENT (PMT) ]

This value is the regular payment which will be due each payment 
period.  The  payment  can  be  entered in three possible ways. A
numerical  amount can be entered directly.   Note  that  negative
amortization might result if the payment entered is less than the
interest due on each payment period.  An interest-only payment be
selected by pressing "I".  If a calculated  payment  is  desired,
press "C".  A calculated payment will result in a loan  amortized
over the chosen term, i.e. the payment will be sufficient to  pay
off the loan over the term.

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*C09
[ RATE PERIOD ]

Enter the frequency in months that the payment  will be adjusted.
                                                                 
                 PRESS <SPACE> FOR KEY HELP                      
*C10
[ PAYMENT PERIOD ]

This entry is the frequency at which the payment is  adjusted  to
correspond to the interest rate.  The payment period will default
to the rate period, but different value may be  entered  provided
it is a multiple of the rate period.  Note that  if  the  payment
period is made larger than the rate period, negative amortization
might occur, if allowed.

                 PRESS <SPACE> FOR KEY HELP
*C11
[ INITIAL MONTHLY PAYMENT ]

Enter the initial payment desired for the loan.  The payment will
increase each year over the graduation   period, and  thereafter,
remain constant for the remaining term of the loan. Note that the
initial  payment  cannot exceed the  minimum  payment that  would
occur for a normal loan.  If allowed, negative  amortization  can
occur, with a graduated loan, depending on  the  initial  payment
and graduation period chosen.

                 PRESS <SPACE> FOR KEY HELP
*C12
[ GRADUATION PERIOD ]

Enter the period in years over which the payment  will  be  grad-
uated or increased.  Note the graduation period cannot exceed  20
years or the term of the loan, whichever is smaller.             

                 PRESS <SPACE> FOR KEY HELP
*C13
[ GRADUATED LOAN HELP ]

Here is shown the annual percent increase  of  the  loan  payment
over the graduation period and the  payment  over  the  remaining
term of the loan.

                 PRESS <SPACE> FOR KEY HELP
*C14
[ GRADUATION SCHEDULE HELP ]

Here is shown the schedule of payment increases  over  the  grad-
ation schedule.  This provides an opportunity to examine the loan
before it is accepted.  If the schedule is  not  acceptable,  the
loan conditions can be redone.

                 PRESS <SPACE> FOR KEY HELP
*C15
[ BORROWER/LENDER INFORMATION HELP ]

Here information about the borrower of the loan and  the  lending
institution can be entered and edited .  Entry of all or part  of
this information is optional.  It may be left blank if desired.

                 PRESS <SPACE> FOR KEY HELP
*C16
[ LOAN APPLICATION FEE HELP ]

The loan application fee usually covers the cost of the appraisal
and credit report.  It is usually $250 to $300.

                 PRESS <SPACE> FOR KEY HELP
*C17
[ ORIGINATION FEE HELP ]

The loan origination is usually 1% of the loan amount. It is paid
if the interest rate is to be locked on a mortgage. If  the  rate
is not locked and the market level at closing  is  taken  as  the
rate, the origination fee is normally not paid.

                 PRESS <SPACE> FOR KEY HELP
*C18
[ PRIVATE MORTGAGE INSURANCE HELP ]

When less than 20% is paid down on a  mortgage  private  mortgage
insurance (PMI) will probably have to be prepaid by the borrower.
PMI protects the lender in the event of a default.  The  cost  of
the insurance is based on the size of the loan, the  type  (fixed
or adjustable), the type of policy, the length of  coverage,  and
the down payment. Typically, if the down payment is 5% the  first
year's fee would be 1.25% of the amount borrowed.  With 10% down,
the fee would be 0.5% of the amount borrowed, and with 15 percent
down, the fee would be 0.35%.

                 PRESS <SPACE> FOR KEY HELP
*C19
[ TITLE SEARCH AND INSURANCE HELP ]

The purpose of the title search is to identify any  objectionable
clouds on the title, liens, or other encumbrances on  a  property
as of the day of settlement.  Title insurance  issued by a  title
insurance company assures the borrower that he/she actually  owns
the property purchased and that the lender will be repaid if  the
title is found to be faulty.  These fees will run about $400.

                 PRESS <SPACE> FOR KEY HELP
*C20
[ INITIAL PAYMENT HELP ]

The lender might require that the borrower pay the first  month's
mortgage payment at closing.  If the initial payment is paid,  it
will automatically be included on the  loan's  amortization sche-
dule.  If all loan conditions have been  entered,  including  the
the initial payment, simply press "P" to  include it here.   Only
the standard payment may be entered here.

                 PRESS <SPACE> FOR KEY HELP
*C21
[ PROPERTY SURVEY HELP ]

This is a drawing of the legal boundaries of  the  property,  and
location of the house within the boundaries.  It shows  that  the
house is built completely  on the property and that it  does  not
encroach on a neighbor's lot.  A survey will  vary  considerably
depending on the size of the property.  For most lots it will run
from $75 to $150.

                 PRESS <SPACE> FOR KEY HELP
*C22
[ APPRAISAL FEE HELP ]

A lender usually will require an  independent  appraisal  of  the
property to confirm that the price being paid does not exceed its
market value.  Note that the loan application fee may include the
cost of the appraisal. The cost of an appraisal will be $125 up.

                 PRESS <SPACE> FOR KEY HELP
*C23
[ DEED RECORDING HELP ]

This fee will be $25 to  $35 and will cover the cost of recording
the deed and mortgage on public record  through  the  appropriate
governmental authority.

                 PRESS <SPACE> FOR KEY HELP
*C24
[ PREPAID HOMEOWNER'S INSURANCE HELP ]

Often the lender might require that the borrower  pay  the  first
year's homeowner's insurance premium at or  before  closing.  The
will depend on the value of  the  property,  but  will  typically
range from $300 to $700.

                 PRESS <SPACE> FOR KEY HELP
*C25
[ PRORATED PROPERTY TAXES HELP ]

This fee is for any property taxes that the borrower must  pay at
the time the loan is closed.  For  example,  if  the  loan closed
on June 30, the borrower might have to  pay  half  of  the year's
taxes, or if the seller of the property had already paid the taxes
for the whole year, he/she would get a rebate from the borrower.

                 PRESS <SPACE> FOR KEY HELP
*C26
[ ATTORNEY FEES HELP ]

These fees could include the fees of both the lender's  and  bor-
rower's lawyers.  Lawyers are commonly employed  to  review  real
estate agreements prior to final acceptance and to write  special-
ized legal language required for the sale. These fees will  norm-
be $250 to $500.

                 PRESS <SPACE> FOR KEY HELP
*C27
[ CREDIT REPORT HELP ]

A lender will want to examine  a  prospective  borrower's  credit
history and charge the cost to the borrower.  The cost will range
from $25 to $50.

                 PRESS <SPACE> FOR KEY HELP
*C28
[ OTHER FEES HELP ]

Include here any closing costs or fees that are  not  covered  by
any of the other categories listed here.  You might include  here
fees for  termite  inspections,  recording  taxes,  and  document
preparation.

                 PRESS <SPACE> FOR KEY HELP
*C29
[ POINTS HELP ]

Each point is 1% of the amount borrowed, including any other fees
added to the loan.  Points will increase the APR and are a device
used by lenders to increase the effective return on the mortgage.

                 PRESS <SPACE> FOR KEY HELP
*
