Home Equity Monitoring and Projections

jmine83
Member ✭✭✭
I want a new section, to link to an existing mortgage account, that adds the following as additional columns in the register view with each mortgage payment transaction:
Value: The current value of the home property (bonus points if it pulls directly from Zillow)
Equity: The value of the home minus mortgage balance
Percentage: The equity amount of the home divided by the home value
Especially useful for monitoring when the equity reaches the 20% mark that banks consider the point where the homeowner can request to remove the mortgage insurance.
Value: The current value of the home property (bonus points if it pulls directly from Zillow)
Equity: The value of the home minus mortgage balance
Percentage: The equity amount of the home divided by the home value
Especially useful for monitoring when the equity reaches the 20% mark that banks consider the point where the homeowner can request to remove the mortgage insurance.
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4
Comments
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Totally agree. And the equity should be part of the Net Worth figure.0
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dp599 said:Totally agree. And the equity should be part of the Net Worth figure.Equity IS, indirectly, recorded as part of your Net Worth. It's the value of the property minus the value of the mortgage.To include it again, as a separate number, would be double-counting it.Q user since DOS version 5
Now running Quicken Windows Subscription, Home & Business
Retired "Certified Information Systems Auditor" & Bank Audit VP0 -
Just checking – do you already have the house as an asset account (Property heading in the sidebar)? If so, then NotACPA is correct, you would be double-counting it. If not, then you should add it as a new account. Use whatever value (e.g., from Zillow's website) and then update it manually periodically.0
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