On 2023-11-02 12:04, Michael or Penny Novack wrote: > You are unlikely to receive an amortization table for free (I would have > had to pay a bit extra for it and that was four? decades ago.
Truth-in-Lending legislation has changed A LOT in those four decades. At closing for my house, three years ago, I received an amortization table whether I wanted it or not. Even without an amortization, table, I think it is not so hard to figure amortization as you imply. I suspect (but don't know for sure) that the need to match standard, legally mandated methods of computing the Annual Percentage Rate (APR) of a loan have caused banks to adopt more uniform methods of amortization. And if nothing else, the homeowner can always look at the monthly statement from the mortgage company. It shows principal (not "principle"), interest, and escrow component of the next payment due. BTW, GnuCash's loan wizard matched my amortization table perfectly. If there were really so many amortization methods out there, that would have been quite a remarkable coincidence. Stan Brown Tehachapi, CA, USA https://BrownMath.com _______________________________________________ gnucash-user mailing list [email protected] To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user ----- Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
