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Updated almost 3 years ago,

User Stats

9
Posts
13
Votes
Gail Shulski
  • Investor
  • Bucks County
13
Votes |
9
Posts

PML Calculation for Interest payments and Payoff needed

Gail Shulski
  • Investor
  • Bucks County
Posted

I'm about to close a deal with a PML for $150,000, 12%, and 2 points.  I'm going to pay interest only for 6 months and then a balloon payment of the balance on the 7th month (after I'm able to refinance with a traditional loan).  Can anyone tell me what the Interest only payments would be each month and the balloon payment of the balance due in the 7th month?  I appreciate your help!!  Thank you!!  Gail

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