Can MORTGAGE2 PRO calculate the interest adjustment amount and when it is actually due?
Yes. It will actually allow you to use many different ways of calculating the interest adjustment in order to be backward compatible with some lenders. At one time in Canada some lenders actually used exact day simple interest for interest adjustments. Today in Canada most lenders use semi-annual compounding in the interest adjustment calculations.
Related Questions
- Can MORTGAGE2 PRO calculate the correct balance owing at the end of the year if you made many, many prepayments between regular payments?
- Can MORTGAGE2 PRO calculate the maximum amount you could borrow for a given interest rate, payment and amortization period?
- Can MORTGAGE2 PRO calculate the interest adjustment amount and when it is actually due?
