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> Progressive interest calculation, How does it work?

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TSRilakCorgi P
post Nov 17 2019, 07:24 PM, updated 5y ago

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Hi guys.. May I know how the calculation for progressive interest works? Been reading materials I can find online but still blurry to me..

Below are the details I have:

SPA = 546,680
After 10% discount = 492,012
After 2% MOT = 481,078

Estimated completion = end of 2021

Reason is I'm trying to compare in the end how much I need to pay between sub sale and new project.

hft
post Nov 17 2019, 07:27 PM

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Commercial or residential?
TSRilakCorgi P
post Nov 17 2019, 08:44 PM

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QUOTE(hft @ Nov 17 2019, 07:27 PM)
Commercial or residential?
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Type: Service apartment, Commercial title
hft
post Nov 17 2019, 09:46 PM

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QUOTE(RilakCorgi @ Nov 17 2019, 08:44 PM)
Type: Service apartment, Commercial title
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Next variable is disbursement schedule, what is their plan? It’s different than residential property. They can even ask full payment as beginning of project phase. Depends on what is written in SPA.
crayonhuat
post Nov 18 2019, 11:06 PM

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the progressive interest you can estimated 4% of your loan amount and assume no project delays..

 

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