Loan or Mortgage Payment Setup

Fast answer

For a mortgage plan, enter the loan part of the payment, choose a Lender account where Foreseenly tracks what you owe, then enter the current balance, APR, and next due date. The payment leaves the selected account; the lender account is reduced as the loan is paid down.

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. Since version 1.17.0, you can copy the existing plan first, then adjust the loan fields, schedule, and start date to make this faster.
• 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.