Home Equity Loan setup

[Bill Cummens]

Hello Gnucast support,
I am a new user to GnuCash. I am having trouble setting up a Home Eq. loan. I've tried following the example in the Help manual but it didn't come out right.
I have a $100.000 loan out of which there are deductions of $1500 in service fees and a $50,000 disbursement to pay off another loan. This leaves me with a $48,500 loan at 3.15%. How do I set this up? Each time, as I enter in my monthly payment, will it automatically decrement the interest portion and increase the principle portion?
Thank you in advance for your help.

Best regards,
Bill Cummens