Primary Home

To change the location of the current primary home, navigate to the Profile > Family area, open the client card and change the residence state in the drop down.

To model a client's current mortgage, navigate to the Profile > Net Worth > Add Account > Loan card. Once the terms of the mortgage are entered choose the corresponding property within the "link to property" drop down. When choosing to sell the previous primary home using the Primary Home Relocation Goal, any mortgage balance tied to the previous home will be automatically paid off. Within the Primary Home Relocation goal you will also see an option to enter new mortgage terms for the future new home purchase if the down payment is less than 100%.

To create multiple purchase scenarios for homes, navigate to the Retirement > Analysis > Probability section. You can create multiple proposed plans within the pencil icon in the top right of the screen, create a proposed plan for each of the purchase scenarios you would like to model. Open the Action Items > click the Edit button > Add New Items > Goals > Property > select the property type.

The sale of a primary home will impact the tax paid in that given year. When modeling the sale of the primary home, RightCapital will take into account the gains taxes paid on the sale of the asset.