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  • Profile photo of kieran56kieran56
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    @kieran56
    Join Date: 2006
    Post Count: 2
    February 14, 2007 - 11:47 am

    Bill

    All the other guys are correct. The lender will usually lend between 60-70% of the GRV which should enable you to fully fund the project

    Kieran56

    Profile photo of kieran56kieran56
    Member
    @kieran56
    Join Date: 2006
    Post Count: 2
    February 14, 2007 - 11:41 am

    Making payments weekly has a greater impact on the loan balance than paying a lump sum because of the way the interest is calculated.
    Although you see only one charge for interest be assured the interest is calculated daily on the loan balance and then charged at the end of the month.

    So you can see by making weekly payments you are reducing the balances on which the interest is charged and therefore less interest will be charged.

    Regards

    kieran56

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