Hi sifus,

I'm working on the monthly interest payment calculation to determine what is the interest amount I need to pay according to the Schedule H. Currently it is still under contruction stage.

Developer is giving 7%+5%+1%+9k rebate. So the rebates can fully offset the D/P and partially for stage 2a.

Let say loan interest is 3.4% p.a.

Is it correct to multiply the total amount bank released to developer (principal) in each stage by the interest rate 3.4% and divided by 12 month, and thats the amount I need to pay monthly during the contruction stage?

Thanks in advanced