Mortgage Entries and Equity Buildup
When making the entry for the monthly payment, is the figure to be supplied there principal and interest only? I am thinking it is since taxes and insurance are accounted for elsewhere.
Secondly, I am a bit confused by the rapid buildup in homeowner equity shown by the program. Certainly principal pay down is accounted for in there and real appreciation also (luckily positive in my area) but the figures seem to be in excess of what I would expect. Anyone know what input error is common or a variable I am not thinking of that would account for this? I assume the numbers in the spreadsheets are not nominal but inflation adjusted.