On 2/18/2022 2:42 PM, Alan Schold via gnucash-user wrote:
Is there a way to get the mortgage repayment module to account for
regular extra monthly payments? Now the calculations proceed as if I'm
just paying the basic mortgage amount, and I have to recalculate the
principal balance each month. The calculator is only right once!
Irrespective of the gnucash mortgage calculator
a) If the amount of extra premium you pay is a random amount, the
amortization table would have to be recalculated.
b) If the amount of extra premium is exactly the next premium amount (or
sum of more than one next premium amounts) the amortization table does
not have to be recalculated in the sense that those payments can simply
be crossed off (and the dates of all subsequent payments slid up. In
other words, if you are using an amortization table printed off, you
just cross off payments (you have moved that many payments closer to the
loan being paid off.
c) As I have pointed out earlier, too many assumptions being made to
expect whatever calculation gnucash uses will match the bank exactly. In
other words, two different banks are unlikely to agree exactly, so no
point trying to "fix" the calculation gnucash uses. In my working days
(coinciding with my mortgage paying days I did write "adjusting"
software that could produce an amortization table to match whatever the
bank had (except, perhaps, for the final adjustment payment at the
end). The only reason I wrote this was :fun" and the banks usually
charge for giving you the amortization table. I don't know if that last
is still true.
Michael D Novack
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