SubTo · for agents & MLOs
Two
Ledgers
The year you kept · the year you could have had
You closed the deals. You kept the commission. The principals kept the asset. Post two or three of your real closings and read both sides of the book — computed, line by line, from a named public index. No hype, just arithmetic.
Free. All modeled figures are estimates. General information, not financial, legal, or investment advice.
How it works
- 01
Post your closings
Enter two or three real closings from your last year — price, side, commission, close month. No email needed for this part.
- 02
Read ledger one
Instantly and deterministically: what you kept on each deal, next to what the principals walked away with — buyer equity motion computed from the named public FHFA House Price Index for your metro.
- 03
Open the second ledger
One of your closings, rebuilt as a clearly labeled hypothetical creative acquisition — entry cost, monthly spread, equity — with assumptions you can drag. Plus a screenshotable ledger card carrying your numbers, never your name.
Data & method — shown, not hidden
- Appreciation. Buyer equity motion uses the FHFA House Price Index (all-transactions, NSA) — a public dataset published by the U.S. Federal Housing Finance Agency — for 32 large metros, with statewide series as the clearly labeled fallback. This build carries the FHFA HPI 2026Q2 release (values through 2026 Q2); the series id appears on every result.
- Seller proceeds. Modeled as price minus 7% (5.5% total commissions + 1.5% typical seller-paid closing costs), before any mortgage payoff — always labeled an estimate.est.
- Every number is deterministic. The same inputs always produce the same outputs, and the arithmetic behind each line can be expanded on screen. Nothing is generated; nothing is fabricated.
Two Ledgers provides general information for real-estate professionals, not financial, legal, tax, or investment advice. All modeled figures — seller proceeds, equity motion, spreads, and every ledger-two line — are estimates built from the stated assumptions and the public FHFA House Price Index (FHFA HPI 2026Q2 release). Ledger two is a hypothetical reconstruction: it describes what a deal could have looked like under the assumptions shown — not a prediction, promise, or record of earnings. Your entries stay in your browser in this preview build.