Rounding in Mortgage Assistant

Mike or Penny Novack stepbystepfarm at
Fri Nov 9 08:48:20 EST 2012

gnucash at wrote:

>I just tried using the Mortgage Assistant in Gnucash 2.4.11.  The mortgage payment
>came out within one cent of what the bank thinks my mortgage payment should be.
>How do I make Gnucash Mortgage Assistant round up instead of down?  If that isn't
>possible, how to I edit the pmt(...) statement to round up?
>I would suggest that the mortgage assistant be a little more clear about start and
>end dates.  It isn't clear if the start date is the day the money is borrowed or
>the date of the first payment.

Asking for the wrong fix. There is no way to code gnucash so that it 
will always agree with the amortization schedule decided on by some 
bank. Coming to agreement by a cent is actually quite good. Changing 
rounding might make gnucash agree with THIS bank but make it not agree 
with some other bank that it now agrees with. I have written 
amortization table software in my day and the real issue isn't rounding 
but how payments are adjusted in terms of the "best fit" for the final 
payment (what assumptions are made about the final payment).

What we should really be asking for is a "recalc amortization" where the 
payment amount can be specified (to match what the bank is insisting upon).

Michael D Novack, FLMI

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