Posted by Ted T on March 09, 2000 at 13:40:00:
I’m sorry! I was thinking something else there, You need to offer them interest that is at least equal to their existing financing or they may flat out refuse. It just would’nt make sense to anyone paying say 7.25% interest and give it to you for anything less. Try for the existing interest rate first and go from there.
Ted
Re: How do I calculate interest on Wrap-financing? - Posted by Brian_CA
Posted by Brian_CA on March 09, 2000 at 12:23:58:
Hi Gang!
Can anyone tell me how to calculate the interest on a wrap-a-round mortgage? I would like to be able to tell my sellers an exact amount of how much money they will be getting from the deal. Thanks in advance.
Brian_CA
It’s Easy - Posted by Ted T
Posted by Ted T on March 09, 2000 at 13:34:26:
Try for 0% at first . Brian, you determine the interest not them. If it makes sense to you then do it, otherwise pass.
You are in the driver seat.
Best of Luck
Ted