On 2023-11-02 12:04, Michael or Penny Novack wrote:
> You are unlikely to receive an amortization table for free (I would have
> had to pay a bit extra for it and that was four? decades ago.
Truth-in-Lending legislation has changed A LOT in those four decades. At
closing for my house, three years
On 11/2/2023 12:49 PM, Alan Johnson via gnucash-user wrote:
Your mortgage payment should be fixed, adjusting one a year for escrow
review.
You can automate / enter a year's worth of payments from bank to
mortgage account.
You should also have a the 360 (or other) payment amortization table as
Your mortgage payment should be fixed, adjusting one a year for escrow
review.
You can automate / enter a year's worth of payments from bank to
mortgage account.
You should also have a the 360 (or other) payment amortization table as
part of your loan packet which shows you what each payment
One way to automate the bill generation would be to create a payment
plan in a spreadsheet. It should be fairly easy to calculate principal
and interest in each installment in a spreadsheet, and convert that
spreadsheet in to csv format for bill generation in GC, and import the
csv file to GC
On 11/2/2023 12:33 AM, Jediator wrote:
In addition to setting up the proper account structure, I would make
your mortgage company as a vendor and set up a bill each month with
split transactions to map to mortgage-related subaccounts (e.g,
property tax, insurance, interest and principal) as
In addition to setting up the proper account structure, I would make
your mortgage company as a vendor and set up a bill each month with
split transactions to map to mortgage-related subaccounts (e.g, property
tax, insurance, interest and principal) as such:
* Mortgage Payment
o PMI
On 11/1/2023 5:05 PM, Anthony Della Cioppa wrote:
I set up two saving account, one taxes, one for insurance and my one for my
Lian. When that gets paid I pull it from the corresponding savings account.
Would that be wrong?
You can THINK of like a "savings account", an involuntary savings
Your GnuCash mortgage related accounts should be given the same account
type as the various accounts at your lender's location. Follow the
recommendation of Michael or Penny Novack earlier in this thread.
For the principal and interest payments review the examples in the help
manual for
I set up two saving account, one taxes, one for insurance and my one for my
Lian. When that gets paid I pull it from the corresponding savings account.
Would that be wrong?
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To update your
I structure my mortgage accounts like thus:
- Asset account representing the property value (sub accounts for land
/ buildings as needed)
- Loan/Liability account representing the amount borrowed which is
transferred to the Property Asset account
- Closing costs from the HUD-1 should also be
On 11/1/2023 12:03 AM, Edwin Booth wrote:
Hi. How do y’all deal with a mortgage escrow account? Specifically, each
month I pay into the escrow account along with my monthly PMI payment. It
is all an expense. But when the mortgage company pays out money from that
escrow account (for taxe and
Got it. Thanks!
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On Wednesday, November 1, 2023, 12:03 AM, Stephen M. Butler
wrote:
I treat it like another asset account. The monthly escrow amount goes
in and when the escrow pays out it comes out as an expense.
So your monthly payment out of your
I treat it like another asset account. The monthly escrow amount goes
in and when the escrow pays out it comes out as an expense.
So your monthly payment out of your checking account ends up in three
places:
1. Interest Expense.
2. Liability reduction (the mortgage).
3. Escrow asset
Hi. How do y’all deal with a mortgage escrow account? Specifically, each
month I pay into the escrow account along with my monthly PMI payment. It
is all an expense. But when the mortgage company pays out money from that
escrow account (for taxe and insurance payments) how do you account for
them
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