Calculate Straight-Line Mortgage
Calculate a straight-line mortgage loan's monthly payments and balance.
A straight-line mortgage means the repayments of the loan are equally distributed. Every period a fixed amount is repaid. This means the total monthly amount decreases as the principal balance decreases with every payment. A straight-line mortgage is also known as a linear mortgage.
This module calculates the new monthly amounts in case of a variable-rate mortage or an additional repayment.