Loan / Mortgage

HomeBank User manual

# Using HomeBank to follow up a loan or mortgage

As such specific financial operation vary from countries to country, there is no built-in feature to input this, but you can anyway setup and follow the reimbursement/profit with 2 or several accounts.
Here is a way of setup and follow-up a loan for a house, it is setup into the example file as well:

### Step 1: Setup the accounts

We will setup 2 accounts:
- the bank account, this is where the reimbursement will goes to the loan account
- the loan (house) account, this is the loan itself
- in this account, we input a first expense line with our loan total amount: -166 000.00 €

### Step 2: Setup the recurring transaction

We will setup 2 recurring transaction separating refund and insurance:
- refund: is a monthly transfer of -1053.45 € from 'bank account' to 'loan (house)' account
- insurance: is a simple monthly recurring transaction of -33.20 € in 'loan (house)' account

The optional setup is not detailed here: payee, category, tag, clear, reconcile, whatever to fit you needs

### Step 3: Input or import the monthly fee

As input each month fee will be painful, let's take benefits from the CSV import.

From your bank, or a website bank simulator, you will be able to get a full table of your loan with detailed fee.
It is quite easy with a spreadsheet program to rearrange this to HomeBank CSV file format.
Then, just import this fees into the 'loan (house)' account.

### Goal: Display evolution, progression

In the main window
- 'Your account' shows the remaining due amount, with cleared, reconciled and future depending on your configuration.

With time report
To view progression, 2 option:
- tick 'Cumulate'
- select 'loan (house)' account only

With balance report
- select 'loan (house)' account only

Et voilà !
You can also use other report with appropriate filter/display configuration