QUOTE(syaz80 @ Jan 17 2013, 11:48 AM)
Can I ask, how much is the monthly progreesive interest for this condo until it is ready? When it is ready and handed over, do we then only start paying the full monthly installment?
well, there is no straight forward answer for this question. depending on how much developer has completed and requested bank to pay progressively, interest will be calculated base on that amount and thats how much the borrowers have to pay.
also depending on which floor you bought and how fast the construction progress (hence the progressive payment and the interest). typically the lower floor you bought the more interest you will need to pay as the progressive construction is completed much faster than the higher floor.
another variable here is the individual's loan amount (MoF) and loan package (interest rate, whether MRTA financed in, etc), the number will be different.
anyway, if my memory serves me right, every 24k of progressive payment is equivalent to around RM50 (when BLR 6.6% and 30 years loan package with -BLR 1.9%) sometimes few ringgit difference although payment is promptly paid every month.
This post has been edited by property101: Jan 17 2013, 09:56 PM