OwnerTrack.Loan is a simple, affordable SaaS platform designed to help lenders track loan payments, generate statements, and provide borrowers with secure access to their loan details.

The assistant is optional and off until your administrator turns it on. When you ask a question, the selected loan's terms, balances, payment history and the borrower's name — never contact details — are sent to our AI inference provider to generate the answer. Answers are kept with your account for 12 months and noted in the audit log, and are not used to train models. See our Privacy Policy.

Setting up your account is quick and easy. Just sign up, enter your loan details, and you can start tracking payments and sharing statements within minutes.

OwnerTrack doesn't process payments directly — instead, it lets lenders share their personal payment links or details for Venmo, Cash App, and Zelle with borrowers. This keeps payments fast and familiar, while OwnerTrack handles the tracking and record-keeping.

Yes, borrowers get secure, 24/7 access to their loan payment history and statements through the borrower portal, keeping them informed at all times.

OwnerTrack runs on dedicated infrastructure with automatic HTTPS, encrypted storage, weekly backups, and strict tenant isolation so you only ever see your own loans.

Each loan uses the method on its note: Actual/365 (interest on the actual days between payments, 365-day year) or 30/360 (every month treated as 30 days). Interest for the period is calculated first, and the remainder of the payment goes to principal. Loans can also run in Fixed schedule mode, where each payment takes the scheduled interest no matter the day it arrives — the right choice for notes with a fixed monthly payment and a grace window, where lateness is handled by a late fee rather than extra interest.

Yes. Each loan uses the method on its note — Actual/365 or 30/360 — and can run in Fixed schedule mode. In Fixed schedule mode every payment follows the amortization schedule, so a payment that arrives a few days late still gets the scheduled interest and principal split; lateness is handled only by the late fee. This is the right setup for most owner-financed notes, where the borrower has a payment window (such as the 1st through the 5th) and the note charges a flat late fee after it.

Then we multiply the daily interest by the number of days since the last payment:

Interest for the period = Interest per day × Number of days

Example (31 days):

$16.44 × 31 ≈ $509.59 (rounded)

That $509.59 is the interest that must be paid first.

Escrow first (if collected), then your loan's allocation order — by default late fees, then interest, then principal. You can change the order per loan.

It depends on how the loan is set up.

On a daily-interest loan, the payment covers as much of the interest as it can and no principal. The interest it didn't cover is carried as Unpaid Interest — it stays separate from your principal balance (it is not added to the loan), shows on the loan as its own figure, and is collected by the next payment before any principal. Each payment record shows the interest for the period, any unpaid interest carried in, and how much was applied, so you can see exactly what happened.

On a fixed-schedule loan, every payment follows the amortization schedule. A short payment leaves that period marked partial, and the next payment finishes it — remaining interest first, then principal — before moving on. Fixed-schedule loans never carry unpaid interest.

Either way, the shortfall is never forgiven and never rolled into principal. It stays visible until it is paid.

Once the interest for the period is paid, the rest goes to principal — and if the payment is larger than the scheduled amount, the extra goes to principal too. A smaller balance means less interest next period, so paying extra shortens the loan.

You choose what an extra payment does to the schedule. By default the payment amount stays the same and the loan pays off sooner. If you'd rather lower the monthly payment and keep the original payoff date, tick Recast when posting (or use Recast on the Amortization tab).

Two notes: if the loan collects escrow, that amount comes off the top before interest and principal; and if the loan has outstanding late fees, those are paid before principal under the default allocation order.

Only if you turn on Auto-Assess Late Fees. Each loan has its own rules — flat or percentage, minimum and maximum, and a grace period — and a fee is charged once per missed period after the grace period passes. Payments entered late for a period that was actually paid on time waive the fee automatically.

Yes, in two places. Every loan page has an Ask button that answers questions about that loan from its own figures and our help articles — why a payment was split the way it was, whether your late-fee settings match your note, what the payoff would be on a given date — and tells you which article to read for more. The Help Center has its own Ask the assistant button for general questions about using OwnerTrack. Either way, if you'd rather have a person look, Send to support files your question, and the loan's details when one is attached, for our team to review.