Mortgage provident fund loan commercial loan combination loan calculation.

Combination loans, also known as package loans, involve combining multiple types of loans to finance a property purchase. One popular combination is using a housing provident fund loan and commercial loan to pay for a home. The housing provident fund loan offers lower interest rates and is typically used to cover a portion of the down payment. The commercial loan can be used to finance the remaining balance. To calculate the repayment amount for a combination loan, the borrower needs to consider both types of loans separately. The housing provident fund loan repayments are calculated based on the interest rate and loan tenure while the commercial loan repayments are calculated based on the interest rate, loan tenure, and any additional fees. Overall, combination loans can offer a more affordable financing option for homebuyers by taking advantage of lower interest rates on housing provident fund loans while still being able to borrow the necessary funds through a commercial loan.