Comment Re: Spreadsheets should be taught (Score 1) 639
I tried getting a mortgage where I could use compounding interest in my favor.
My idea was I would pay them a fixed monthly sum of X which was larger than the value of interest. The delta would be amortization and this way, I would pay off a little more each month since interest would shrink a little every time.
As you'd expect, they didn't go for that because "the process is not supported by their software".
What you are describing is a conventional, fixed-rate mortgage. It does exactly what you want, and you can even vary the additional principal month-to-month.