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Wish to know the formula to calculate monthly loan payment from fifth payment onward.

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    Wish to know the formula to calculate monthly loan payment from fifth payment onward.

    Hi

    May i know If i change the Loan Amount to 60%, can the formula start from 5th Payment?
    Based on following example .

    Purchase Price: $1,000,000
    Interest Rate: 1.5%
    Loan amount: 80% of purchase Price which is $800,000
    Loan Tenure: 30 year


    1st payment : 5% $50,000
    2nd Payment : 15% $150,000

    Loan Start from here Progressive Payment:

    3rd Payment : 10% $100,000 Monthly installment based on $100,000
    4th Payment : 10% $100,000 Monthly installment based on $100,000 + $100,000
    5th Payment : 5% $50,000 Monthly installment based on $100,000 + $100,000 + $50,000
    6th Payment : 5% $50,000
    7th Payment : 5% $50,000
    8th Payment : 5% $50,000
    9th Payment : 25% $250,000
    10th Payment : 15% $150,000

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    Re: Wish to know the formula to calculate monthly loan payment from fifth payment onward.

    What exactly are you trying to calculate here? It seems like you already know the major variables related to the loan...
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    Re: Wish to know the formula to calculate monthly loan payment from fifth payment onward.

    Hi , sorry about the confusion .
    I am trying to calculate the variables based on the percentage of the loan amount . As the percentage varies, the stage of the payment will also start differently. Is there any way to calculate when 1st payment will start based on the percentage given ?

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    Re: Wish to know the formula to calculate monthly loan payment from fifth payment onward.

    I think I am a little confused here... maybe take one more step back and explain to me. Most loans I'm familiar with have a fixed starting payment (something like the month after the loan, or based on some milestone, like a graduation for a college loan), but you want to calculate that. Usually increasing the down payment (which is what changing the % of the loan does) decreases the monthly payment or allows you to select a shorter duration loan, not extend the date you can start paying.

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