How do I add a HELOC or home equity loan as a liability in PortfolioPilot?
When adding or editing your property in Net Worth - Real estate, you'll see an "Outstanding mortgage" field - this is for your primary mortgage only.
For a HELOC or home equity loan, add it separately:
- Open Net Worth - "Add an asset" - Other assets - Loan.
- Enter a name (e.g. "HELOC - Main St property").
- Enter the original loan amount in "Original investment amount".
- Enter the current balance in "Remaining loan amount".
The liability is reflected in your net worth, giving you an accurate equity figure for the property.
