albertamortgageguy
New Member
- Joined
- Aug 14, 2008
- Messages
- 4
I was wondering if someone can help me. I've just started at a new bank and they have an unusual way to pay mortgages, which is completely different to the usual way that each payment is split into principal and interest. The total mortgage payment goes to the principal and the interest is charged per day and at the end of six months the interest is added back on top of the principle. I haven't been able to find an amortization spreadsheet which will calculate this and I would like to be able to have a side by side comparison with differing payment frequencies and also a chart
thanks for the help
jon
thanks for the help
jon