Auto-calculate interest, principal, and escrows for mortgage payments

It would be good to have a calculator for each property that auto calculated interest, principal, and escrow amounts on a loan payment. Given correct information on the loan (origination date, amortization schedule, interest, loan maturity, etc.), this could be easily accomplished.

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Biggest reason I don’t use Stessa consistently is lack of built in calculations like this. Too manual to maintain without.

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This really is needed. Very unruly without it.

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@manager1 @kbvantage @dugganrealestatellc Thanks for weighing in here. Your feedback is greatly appreciated!

We’ve now begun automatically splitting some imported mortgage payments into interest, principal, and escrows. Note that this is currently only supported for lenders that are directly connected to your Stessa account. Not all lenders are sending through the required details, but for those that do, you should now see your monthly payments broken down into their component parts.

If you’d like to benefit from this new feature, link your Stessa account to your lender now.

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Great stuff, thanks :+1:

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Thank you very much for the new feature auto splitting for mortgage details.

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Do you have a list of lenders that this will work for? How do I know if my lender sends the details before connecting?

Also, do you have a way to manually input details and have the transactions auto categorize based on the amortization schedule?

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I borrow from private individuals.
Simple calculations, but there are a lot of them. Would love to have the computer do it , no bank involved

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My linked account (Chase) supports the splitting and Stessa seems to do that properly. I also have the transaction from my savings account making the payment to chase. How should I categorize that transaction so I don’t double count?

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Agreed! It’s frustrating to go in manually each month for each property and divide up interest, principal, insurance and taxes.

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I have the same problem. I have a checking account for a property and I recently set up a savings account for larger capital expenses. Chase is set up to automatically transfer $400 each month from Checking to savings.
Can’t figure out how to account for that money on Stessa. Really I am just moving money at this point. Not a credit or a debit.

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Use the “transfer” option. I am pretty sure it will not register as a debit or credit. Just moves the money between accounts.

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Yes, but there is not a sub category for adding to savings…

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I have a similar comment: when I enter a mortgage payment and break out (manually) principal and interest, I do not see that the outstanding balance for the related note is adjusted. Am I failing to enter it correctly, or is this not a feature. If not, it should be, as the principal portion of the payment directly reduces the outstanding principal on the loan.

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Hi @williamnrudd, once you linked your Chase loan to Stessa, did Stessa by default start splitting your interest from principle or did you have to do something to initiate the auto splitting? I’ve got my Chase loan also linked but the total payment is showing up just as mortgage payment rather than splitting between interest & principle. Let me know, thx

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To avoid double-counting, categorize the mortgage payment from your bank account to Chase as a “Transfer,” and the Chase Mortgage transaction as “Mortgage Payments.”

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Would like this auto feature as well. Insurance and tax escrows.

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I have linked my account but the mortgage payment has not been split as I have to do it manually

This would be great! I have almost all my lenders linked but none are automatically being split yet. I am not an accountant and this is a challenge and very time consuming.

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I’d appreciate this feature. It’s very time consuming to have to split them out manually to the point that I don’t bother until the end the year.