How to calculate interest only payments on construction loan?

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Justine Jacobs asked a question: How to calculate interest only payments on construction loan?
Asked By: Justine Jacobs
Date created: Thu, Mar 18, 2021 7:16 AM
Date updated: Mon, May 22, 2023 7:28 AM

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Video answer: Adding an "interest only" period to an amortization scheduleā€¦

Adding an "interest only" period to an amortization scheduleā€¦

Top best answers to the question Ā«How to calculate interest only payments on construction loanĀ»

Interest on a construction loan is a very simple formula that anyone can calculate. If your current interest rate is 7.75% you simply take the balance that has been drawn or borrowed. You then multiply this balance by . 0775.

How do you calculate interest on a construction loan?

  • Interest on a construction loan is a very simple formula that anyone can calculate. If your current interest rate is 7.75% you simply take the balance that has been drawn or borrowed. You then multiply this balance by .0775. Then take that number and multiply it by 12 ( 12 months in a year ).

Video answer: Tutorial: construction draw and interest calculation model

Tutorial: construction draw and interest calculation model

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Video answer: Watch me build: construction draw schedule

Watch me build: construction draw schedule