A function that has the ability to slip multiple transactions would give user the ability to approximate this ability. Say my mortgage payment is $1000 per month. At the end of the year, my bank shows 12 payments or total of $12,000 went to mortgage payment. I know that out of those payments $9600, $900 and $300 went to interest, tax and insurance respectively. Using this function, I can select the 12 payments and split them 80% interest, 7.5% tax, 2.5% insurance and 10% principle. It will not be exact for each month but it will be exact for the entire series. This could be useful for other regular payments that has split-able components. If you are interest in this function, I’ve put a request in the wishlist section.
I have mortgages with Wells Fargo and Homepoint Financial, Stessa tells me that Stessa does not support connecting to this Data Source yet. Any thoughts on when they me become available?
YES! I need the same, and it seems like it should be a relatively easy fix to automate this.
I absolute want to see this added too. It’s amazing Stessa does not provide tools to assist with this process.
I am an intermediate Excel user and created my own tool to split my mortgage payments. It may not work for everyone’s situation, but I wanted to share. The Excel file is available on my Google Drive (Go to File>Download after opening):
Use at your own risk - I cannot guarantee it will work for others.
How this functionality was not incorporated into this softwares development from the beginning is disappointing, but it still not being added after 3 years and over 150 requests should be embarrassing.
The lack of this feature is especially frustrating given that this isn’t free software anymore. They charge a considerable amount monthly for the “pro” version but key features are still missing.
I read the help and followed the link to “vote” for this feature. I was heartbroken when I saw the post is dated 2020
I’m also wishing this feature , it shouldn’t be hard to put amortization schedule with principle and interest payment on certain loan and have the transaction under review .
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I have mortgages with lender servicers who are not able to be connected to Stesssa (e.g., Mr. Cooper, Lakeview, etc.). But I can download payment history which is broken into principal, interest and escrow. It would be good to be able to import that to Stessa and to keep the categorization. Otherwise, it’s manual every month. Not great. Can that happen? Thx
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@ejsmith126 I agree with you. As an investor myself and bookkeeper for landlords that uses Stessa where appropraite, I do this manually for myself and my clients. If you have a lot of transactions to input at once, I recommend learning how to use the bulk import feature. You can even save the template for future use.
-Tom
You have my vote for this one. I am moving from PropertyTracker to Stessa and they provide a complete amortization schedule for your loans that recalculates the schedule whenever you add any extra principal to your payment. It would be nice to have columns on an amortization report with the following:
- Interest paid with each payment
- Principal paid with each payment
- Extra Principal paid with each payment
- Escrow paid with each payment
- Total Mortgage Payment (total of the 4 items above).
Put each mortgage payment with these 4 components on each row (plus a total mortgage payment column), and then continue the amortization table with a calculated row all the way to the end of the loan. With each payment you make, the current month’s row is updated on the report. I also like how PropertyTracker’s report shows how much interest and principal I have paid in each year.
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Looks like this is a feature that is long overdue.
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