Off budget mortgage account doesn't account for interest in payments

Hi all,

 

I added my house mortgage as an off budget asset account a while back, but I've noticed that every payment it records, 100% of the payment is being deducted from principal.  So the total I see left in YNAB is way less than the real total left on my bank statement.

 

Is there a different way to set this up to make it work?  Does YNAB not have the proper data in what it downloads to know this split?  Should I just not worry about tracking my mortgage?  Honestly it doesn't matter that much to me, I'm just a data geek.

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  • it is not supported.  I ended up not linking the account and just update the balance every couple of months via reconcile/adjust balance.

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  • I reconcile once a month to account for the interest 

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  • It’s up to you whether you want to track it or not. I like to track my net worth. I calculated my remaining interest payments and I update 12 at a time into my scheduled transactions. So it happens automatically for me every month other than once a year refilling them.

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  • I think it depends who your lender is for how well it works and if interest is accounted for. My mortgage never worked right, I recall it pulling interest but I think it did it twice. My car loan downloaded interest as an INFLOW... So I unlinked both of those.

     

    Now I do a transfer from checking, outflow for Interest, and outflow for Escrow.

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  • I do a split transaction for the mortgage payment with only the principal part of the payment being a transfer.

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  • Interesting.  I'm not looking to increase the amount of stuff I have to do so will just unlink.  Thanks for the responses!

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  • In general, tracking accounts don't link well. DI doesn't handle investment accounts correctly. My mortgage is unlinked but like I said, I automate the transactions with monthly scheduled transactions.

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  • I also keep my mortgage as a tracking account so I can track my net worth. I deduct only what was paid in principal every month - the amount changes very gradually.  Every few months I reconcile, but it's never off more than a few dollars. 

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