Thread Options
#1687268 - 04/10/12 02:38 PM APR Win - Int Only loans
Many Hats Offline
Platinum Poster
Joined: May 2008
Posts: 915
Orlando, FL
I am trying to use APR Win for a loan that is for 36 mo with Int only for the first 6 mo, then P&I for the remaining 30 mo. On the TIL, it states that the int pmt varies from $240.26 to $257.52. Which numbr should I use in the first payment stream? The larger of the two payments?

Return to Top
Lending Compliance
#1687348 - 04/10/12 03:46 PM Re: APR Win - Int Only loans Many Hats
Richard Insley Online
Power Poster
Richard Insley
Joined: Oct 2000
Posts: 9,995
Toano, VA
Your best bet is to load each of the interest payments as a separate stream. The disclosure rule for the pmt. schedule allows you to use the abbreviated form (ranging from/to), but to calculate the TOP, FC, and APR, you must work with exact amounts.
...gone fishing.

Return to Top

Moderator:  Andy_Z