Canadian Mortgage

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11 Aug, 2015 09:37 PM

I see old references and requests in the Knowledge Base. Just wondering if Money Dance has added the ability to handle Canadian mortgages with the semi-annual interest calculation yet. Hoping to finally get out of MS Money

  1. 1 Posted by Tom Freeman on 18 Aug, 2015 06:43 PM

    Tom Freeman's Avatar

    I am using this as a reference, please let me know if it is incorrect.

    It seems the rate that the payments occur on is a monthly compounded rate but the advertised rate by Canadian law is a six month compounded rate. Currently Moneydance does not have a function calculate the monthly compound that the payments will be based on from the semi-annual advertised rate.

    I would assume that your lending institution would provide you with both and you would set up your Moneydance loan account with the monthly compounded rate.

    Tom Freeman
    Infinite Kind Support

  2. System closed this discussion on 19 Mar, 2016 04:59 AM.

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