mortgage payments: split between principal and interest?

[Matt Price]

On Mon, 2009-02-23 at 21:17 -0400, Ian Merrithew wrote:
> What I've done with my mortgage, also being Canadian (ergo the mortgage druid 
> is no use to me), is download a full amortization schedule from an online 
> calculator. Then, in my scheduled transaction editor, I have a biweekly 
> transaction set up with default values. After it goes in, I manually correct 
> the values by looking up the correct ones from my schedule.
> 
> One such mortgage calculator can be found here:
> 
> http://www.investorsgroup.com/english/prodServices/finCalc/mortLoan.shtml
> 
> You won't get a 100% match this way depending on the dates of your mortgage, 
> though. That is, what the online calculator says your remaining balance 
> should be after "X" payments may not be what you actually have left. In my 
> case the error at the end of 2008 was less than $10, so no big deal.
> 
ah, interesting.  another thing i suppose i could do would be to just do
a lump transfer from the "mortgage interest" account to the "mortgage
loan" account at arbitrary intervals.  Scotiabank has its own online
amortization schedule generator, so i suppose i'll use that.

anyway thanks!

matt


-- 
Matt Price
matt.price at utoronto.ca