How to handle Refi?

So I am changing banks and doing a refi - pay off old bank and start a new bank with cash out option,


OLD bank has 440K loan in YNAB, the new bank will be 516K - so how do i reflect this in YNAB?

New bank will pay off old bank and give us cash out of $65K (TBB??)



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  • I just did something similar since my mortgage just got transferred to a new company. Create the new account and transfer the balance of the old account to the new account. Reconcile the old account to the 0 balance and close it. It's as simple as that.

    In the new account add a transaction for the additional 65K loan. The 65K will appear in TBB. Now you can budget it.

  • Ok thanks - does it matter if its a linked account or not?

    • Turquoise Hail  It doesn't matter if your accounts are linked for direct deposit or not.  If an account is linked when you close it, it will automatically unlink.

    • Dela ok


      What if I add the new account as "unlinked" now but find out later that I am able to Link it?

      Is it possible to link it online after its created?

    • Turquoise Hail Absolutely! All you'll need to do is click the little edit button (pencil) next to the account name then Link Account when you're ready. :)

  • Just jumping in to add a bit more context to what Superbone said. Here's the step-by-step to set up that new mortgage Tracking Account:

    • Create a new mortgage Tracking Account with a starting balance of $0. You can make it unlinked to start.
    • Then, close your current mortgage account. When you close it, you'll be prompted to transfer the balance to your new mortgage Tracking Account.
    • Finally, you'll want to make a Reconciliation Balance Adjustment in the new account so the balance accurately reflects what you owe. 
    • Later on, if you are able, you can link the new Tracking Account.

    As for the cash out money, I'm assuming you'll receive a check at closing, which you'll deposit to an on-budget savings or checking account. So, you'll want to add that transaction as an Inflow: To be Budgeted in the deposit account. Then, give the dollars jobs! :)

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