Question
A developer has an existing construction loan with a current outstanding balance of $12,500,000. The extension test debt service payments are based on the outstanding
A developer has an existing construction loan with a current outstanding balance of $12,500,000. The extension test debt service payments are based on the outstanding balance, a 6.5% interest rate, 30-year amortization, and monthly payments. What is the ANNUAL debt service payment for the extension test?
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Probability For Risk Management
Authors: Matthew J. Hassett, Donald G. Stewart
2nd Edition
156698548X, 978-1566985482
