My answer doesn't match my lender's
What's included, how the rate is quoted, and rounding.
- What’s included. Lender payments often add property tax, insurance, PMI or fees. Answers here are principal and interest only.
- The rate. An APR that includes fees, or a rate compounded differently, changes the payment. Rates here are APRs compounded monthly.
- Rounding. A few cents usually come from rounding: lenders round each month’s interest to the cent, and so do the schedules here.
In Financial mode, type the payment rounded to the cent before AMORT, so the figures match your statement.