Suggestions

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Real Assets setup improvements are needed to reflect common scenarios

It is common for a home to go through one or more refinancing events since purchase, and holding more than one loan at different rates is also common.

Please update the Real Assets setup to allow for these conditions to be easily specified. My suggestions 1. Allow Financing Details to be entered multiple times for when their are multiple loans (ie a first mortgage and a HELOC) 2. Financing Details should only be concerned about the amount of the loan and its terms. Downpayment information is not relevant here and makes it very confusing how to represent the current debt on the asset.

1 vote

Tagged as Suggestion

Suggested 28 December 2023 by user Andy Bensky

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  • 28 December 2023 Andy Bensky suggested this task

  • 28 December 2023 Kyle Nolan approved this task

  • avatar
    Kyle Nolan

    Note that if it’s a home you already own, that should actually be entered within the Current Finances page (which does not ask about down payments, etc, since you already own it).

    And if you have an additional loan on top of the primary mortgage, one option is to model that as a separate Debt item.

    28 December 2023