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#2059955 - 01/22/16 03:45 PM APRWIn with constructions
mmason Offline
Gold Star
Joined: Nov 2001
Posts: 447
New England
When using APRWIN to verify the APR for construction/perm loans, do we enter a payment stream for the interest only phase of the loan?
Thanks

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Lending Compliance
#2060169 - 01/22/16 10:15 PM Re: APRWIn with constructions mmason
Reads Regs Offline
Diamond Poster
Joined: Nov 2004
Posts: 2,307
If you told it that it is a construction loan, the you should have to answer questions about the construction period. This should then compute the construction interest for the finance charge in accordance with Appendix D of Reg. Z. If you enter interest only payment in the finance charge, the finance charge and APR will double-count the construction period interest.
Last edited by Reads Regs; 01/22/16 10:16 PM.
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Opinions expressed are my own and not necessarily those of my employer. They are not legal advice.

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#2060184 - 01/22/16 10:52 PM Re: APRWIn with constructions mmason
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 83,219
Galveston, TX
There are no provisions to enter a payment stream on a construction loan in APRWIN.
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The opinions expressed here should not be construed to be those of my employer: PPDocs.com

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