That's why I go for loan package without MRTA/MLTA
Interest for MRTA during construction
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 Oct 22 2019, 03:20 PM
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#1
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1,383 posts Joined: Sep 2012  
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Oct 22 2019, 09:13 PM
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#2
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QUOTE(MrGeex @ Oct 22 2019, 08:20 PM) Does it means, during construction I have to pay 2 types of interest: MRTA interest and progressive interest. Try ask your bank whether you can choose to start paying your monthly installment, else yeah you don't have choice but pay progressive interest for both until your unit VP.Until unit VP then I can start pay the monthly loan instalment, is it correct??  |
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Oct 23 2019, 09:31 AM
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#3
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QUOTE(mini orchard @ Oct 23 2019, 07:43 AM) Interest payment until full settlement of loan. Yeah but progressive interest payment won't reduce principal but only monthly installment, anyway not many bank allow to do that..Monthly installment after vp is inclusive of mrta portion. |
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Oct 24 2019, 09:27 PM
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#4
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QUOTE(hihihehe @ Oct 24 2019, 03:11 PM) i thought progressive interest won't reduce the monthly installment too? Sorry, what I mean is only monthly installment will help in reduce principal.i mean the progressive interest during undercon property is not counted into house loan? |
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