Loan or Mortgage Payment Setup

Fast answer

For a mortgage plan, enter the loan part of the payment, choose a Lender account to track what you owe, then enter the current balance, APR, and next due date.

If your mortgage payment includes escrow, review Escrow Payments before entering the payment amount.

What each field means

• Payment: Enter the regular loan payment amount. Do not include escrow here.
• Repeats Every: Choose how often the payment happens. Most mortgages use 1 Month.

• Lender: Choose or create the lender account that represents what you owe. Foreseenly uses this account to reduce the loan balance and build the amortization forecast.

• Balance: Enter the current principal owed. Debt balances are shown as negative values.
• Interest Rate: Enter the annual rate/APR, such as 4.000 for 4%.
• Next Date: Set the next scheduled payment date.
• Adjust for: Use this if payment dates should move around weekends or holidays.

For most mortgages

• Payment: loan payment only, usually principal + interest.
• Repeats Every: 1 Month.
• Lender: your mortgage lender account in Foreseenly.
• Balance: current principal owed.
• Interest Rate: your mortgage APR.
• Next Date: your next payment due date.

Related tips

• Already have a mortgage payment as an expense? Set an end date on the old expense plan before the next due date, then create the new Loan/Debt Plan from the next payment forward.
• Escrow: set it up as a separate expense plan.
• Extra principal: use Making an Extra Loan Payment.
• Property value and net worth: see Net-worth, Assets, Loans & Appreciation.