Mortgage account is not appearing in category drop down as a transfer

jmad

I recently purchased an investment property and am attempting to record my first payment.

In my other mortgages, I create a split category and enter the amount going towards interest and the amount going towards principal. The principal amount shows up as a transfer attached to the mortgage account and each payment reduces the amount of principal due.
For some reason with this new mortgage, the mortgage account does not show appear in the category drop down.
I have compared the settings and they seem to be the same as the other two I have.
I even deleted the mortgage account and re-added it, to no avail.

Any idea as to what is going wrong and how to fix it?

Tom Young

Is this new mortgage connected to the loan's servicer as a "downloading" Account, as opposed to your other mortgages being set up as "manual" loans, loans not connected to the servicer?

In the case of a connected loan you have no access to the loan's register and you don't make transfers to the loan Account.   Instead, you select a Category, typically called "Mortgage:principal." 

With a connected loan the servicer makes entries into the loan Account that "magically" (without affecting your bank Account) reduce the loan's balance.  This messes up your net worth number by reducing a liability without an offset to an asset Account.  So the debit to a "Category", a form of "expense" that really isn't an expense, "magically" fixes that mistake.