Tracking mortgage payment expenses is essential for several reasons, providing a clear understanding of your financial situation and aiding in responsible financial management.
This has several benefits such as Budgeting and Financial Planning, avoiding late payments, understanding loan amortization, getting tax benefits and much more.
In this post, we are going to discuss how you can use this Mortgage Payments Tracker developed in Notion that helps you get an overview of following:
- Total Principal Repaid,
- Total Interest Repaid,
- Mortgage Debt Free Date,
- Settlement Period timeline,
- Extra Mortgage Payments (if any),
- Monthly Mortgage Payment Dues
- Total Repayments (in %) and much more
In order to use this dashboard we need to set up the mortgage details in the mortgage payment tracker at first before proceeding with the mortgage payments.
But before that let’s have a quick overview of the Mortgage Payments Tracker to get an idea of how exactly it will operate.
How to download the Notion Mortgage Expenses Tracker
Click Here to download Notion Mortgage Expenses Tracker.
Overview of the Notion Mortgage Expenses Tracker
Mortgage Payments Dashboard
The Mortgage Payments Dashboard has 2 different views which serve their own purpose.
1. Mortgage Details
This shows the following basic details about the mortgage:
- Mortgage Amount
- Interest Rate (per annum)
- Mortgage Period (in years)
- Mortgage Period (in months)
- Mortgage Payment (each term)
2. Mortgage Summary
This shows the following other details about the mortgage payments:
- Total Mortgage Loan
- Total Principal Repaid
- Total Interest Repaid
- Repayment (in %)
- Mortgage Debt-Free By
Mortgage Payment Details
- Mortgage Payoff Progress
This shows the Mortgage Payoff Progress with the following details:
- Notes – Helps you add quick notes for payment of mortgage dues
- Date – Add the date of mortgage payment in the mortgage payoff progress tracker.
- Begin Balance – Enter the opening balance of the total mortgage amount.
- Payment – Enter the payment amount of the mortgage repaid.
- Interest – Auto calculates the interest amount to be repaid in the mortgage.
- Principal – Enter the principal amount of the mortgage repaid.
- Extra Payment – Enter any extra payments made during payoff of any mortgage.
- End Balance – Auto calculates the mortgage due after payment of the due amount.
- Status – Indicates if an amount is paid or not based on input in the checkbox
More Templates : How to track Debt Payments in Notion
This template is super helpful and can be customized as per user’s needs to keep track of mortgage payment expenses for the mortgage taken.
Click Here to download and start using Notion Mortgage Payment Tracker right now.
Here’s some of the most commonly asked questions on using Notion template:
1. Does this work on the free version of Notion?
Yes. Once you’ve made the purchase, you will get a link to duplicate this to your Notion workspace. You don’t need to be on Notion’s Personal Pro plan to use it.
2. Can I change the currency of the template?
Yes, Notion supports a lot of currencies and you can customize this template to your preferred currency.
3. Do you offer customization or other support, if something is needed to suit my specific use case?
Yes. Reach out to me at email@example.com to know more.
4. Does the template contain Notion Formulas 2.0?
Yes, all the templates are upgraded to Notion Formula 2.0 (by default).
5. Can I share this template?
This Notion template comes with a personal license for individual use. Feel free to use the template with your internal team. But please do not share it with other individuals.
6. What will happen after my purchase?
Right after your purchase, you will be made available with the link to download the template. After downloading the template, you will be able to duplicate it in your own workspace. You’ll also receive an email with the link to the template and other relevant files.
7. Is there a refund policy?
Yes, If you feel that the template hasn’t provided you with any value, write to us & we’ll give you a refund within the first 30 days of purchase. We’re passionate about making products people find value in and we’re confident in the value of this.