Modelling home finances

I’ve just uploaded a rough-and-ready program for modelling mortgage offsetting.  Mortgage offset accounts are like savings accounts linked to a mortgage, but instead of earning interest they reduce the interest charged by offsetting the loan amount.

There are mortgage lenders that let you manage offset accounts on-line, and even show nice graphs to show the predicted effect of offsetting (i.e. how much less time it will take to pay off the mortgage) but this graph is a lot more configurable than any I’ve seen.

You can use it to say that you’ve a certain amount in the offset account, but you’ll be withdrawing an amount each month; or you expect a fixed term deposit to mature in 6 months; or there’s a big purchase on the horizon that will reduce the size of the offset.

The project is called expendable, and I’m hosting it at expendable.fedorahosted.org.  Click on the picture above to take a closer look.