Hi,

I'm getting some troubles to enter a loan for building a hourse. Here are the caracteristics :
- Max amount : let's say 200000€
- Fixed interest
- Duration : 252 months, but with the first 12 months I only pay the interest for the total liability (that is increasing when new payments are done).
- The bank is giving me 25000€ slices, I can get a new slice with I send the justifications invoices for the previous one. Of course, I pay only interest on the money a got. (the slices that have been paid).
- I have a percentage fee on the money that is blocked (not yet spend). So, I pay a percentage every months on (200000€ - n X 25000€). (with n, the number of slices that the bank gave me, with a maximum of 8 slices to reach the 200 000€)

Is there a way to insert this loan in kmymoney ?

Regards,

I think there is no way in KMyMoney to calculate this kind of loans yet.

Hei Ku wrote:I think there is no way in KMyMoney to calculate this kind of loans yet.

... at least not completely automatic with all bells and whistles.

Here's how I would set it up:

a) create a regular loan with all your parameters at hand.
b) don't select to create a payout transaction.
c) create a (monthly?) schedule together with the loan.

With this at hand, you should be set for the time after you have reached the full loan amount according to the contract with your bank.

Until then, you simply create a transfer from the loan to your asset account whenever you receive the next chunk from the bank. This increases the loan sum and calculation of the interest amount will be adjusted automatically.

When the interest payments are due (I assume monthly here), enter the schedule and adjust the transaction manually:

a) remove the principal part
b) add the fee split for the money still on hold

You can do this either while entering the transaction or once the transaction is stored in the ledger. Of course, the forecast figures will be a bit off because we cannot calculate all the variations of the product.