[Kmymoney-devel] Feature request - Loan Amortization calculations

[Marius Groenewald]

Hi there,

The Loan Amortization feature of KMyMoney only allows me to capture the first loan amount and calculates the interests and payments etc. The problem comes when I take out a second bond on my existing bond for enhancements or major work to be done.

Example:
Original bond = $600,000 over 30 years.
After a year or two I take out a second bond to build an extra garage for about $80,000.
The Loan schedule wizard only allows me to change the interest rate and principle amounts, but not the Loan Amount. I need to add the $80,000 to the $600,000 amount, or whatever is the balance after a year or two. My premium needs to be recalculated with the new remaining loan amount, together with the remaining period.
Currently I have just added the second bond's value in my home's Asset Account to show the increased loan value, but the principal + interests calculations are not adjusted accordingly. I adjust the scheduled entry every time when I need to make an entry to show the increased premium.

I can't create a separate Loan Amortization account, because the financial institution does 1 deduction for my premium and calculates the interests on the combined loan total for the remaining period.

Please assist

Regards

Marius Groenewald  MCSSA
Officer Information Architecture
Information Management
GroupIT, Eskom Holdings Ltd.
Bloemfontein  Eskom Centre  First Floor  Phase 1
Tel +27 51 404 5188
Cell +27 83 255 3855
Fax +27 86 665 3855
E-mail  groenem at eskom.co.za<mailto:groenem at eskom.co.za>
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