Interest Calculations for Mortgage (Australian)

[Derek Atkins]

The mortgage handling is still a work-in-progress.

- I do not believe it handles daily-accrued interest.
- I do not believe it handles pre-payments or over-payments.
- I do believe that these are in the author's queue, but he has had
  no time to work on it.

You can check bugzilla, but I'm fairly sure there are already reports
out on these issues.  If not, feel free to file new reports.

-derek

Adrian Blockley <a.blockley at poboxes.com> writes:

> Hi all,
> 
> I am using scheduled transactions to keep track of my home loan. What I don't know is how do I schedule interest payments which are calculated daily and debited monthly?
> 
> I have dabbled with the mortgage and loan repayment wizard but feel none the wiser ( ie I am on a variable interest rate and the options of 3/1 year, 5/1 year etc don't seem to make much sense to me)
> 
> I suspect that I will have to set up the scheduled transactions by hand and edit them when interest rates change. Also how do I set up the interest rate calculations so that they take into account any extra payments that i have made during the month.
> 
> Cheers
> 
> Adrian   
> 
> -- 
> --------------------------------------------------
> Adrian  Blockley	 
> 32 Darwinia Loop 
> Canningvale WA, 6155
> a.blockley at poboxes.com
> 
> Ph: 08 9256 1953
> Mobile: 0405 609 990
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-- 
       Derek Atkins, SB '93 MIT EE, SM '95 MIT Media Laboratory
       Member, MIT Student Information Processing Board  (SIPB)
       URL: http://web.mit.edu/warlord/    PP-ASEL-IA     N1NWH
       warlord at MIT.EDU                        PGP key available