1.9.8 Mortgage/Loan Druid

Jim Karcz jkarcz at gmail.com
Mon Jun 26 12:12:36 EDT 2006


What do you mean by this? Perhaps the M&LD should have a first-year
amortization table available before you "finish" the process?

I did a little more poking, and since the druid seems to only create
cool little formula as a  scheduled transaction, I don't think I have
a problem in this case because my existing imported transactions are
split up correctly already.  The program I used previously had a
"special" loan account, which rolled this amortization junk into the
account setup, which I know officially, do not like after using
gnucash.  I believe setting the loan origination date to 6/2004 and
the next payment date to 7/2006, the correct P+I will be used.

Just to understand a bit more, I did a test where I entered a next
payment date of 6/2006, to replicate just the last payment.  Upon
applying the scheduled transaction for 6/2006, it used 7/2006 P+I.  I
would have expected the 6/2006 P+I to be used.  The scheduled
transaction entries for past transaction don't used the correct P+I
and seems to start from the next upcoming payment for entering P+I.


On 6/26/06, Derek Atkins <warlord at mit.edu> wrote:
> Jim Karcz <jkarcz at gmail.com> writes:
> > I attempted to create a 30yr mortgage which I am about 2 years into. My
> > thought was I could just enter the previous 24 past transactions
> > automatically, then delete the old ones originally from my QIF import. I
> > entered the loan as a basic fixed interest rate with 360 payments
> > starting in 6/2004.  The druid presents a list of Principal and
> > Interest, P+I, calculations which appear to be within $0.01 here or
> > there.  Looks good so far.
> >
> > When it comes time to enter the scheduled transactions, The P+I for the
> > first payment in 6/2004, seems to use the P+I for the next payment,
> > 7/2006. This appears to be a bug in the scheduled transaction creation
> >>From the Mortgage/Loan druid.
> You probably chose the wrong choice for "beginning" or "end" of
> period.  Perhaps the M&LD should have a first-year amortization table
> available before you "finish" the process?
> > Thanks,
> > Jim
> -derek
> --
>        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

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