I have mine set up as a loan/liability with my home as linked asset.
In Q2002 DL, US, it is not possible (AFAICT) to set payments
automatically, and have the interest and principal be calculated
automagically. I have entered a recurring automatic payment to occur
every other week (on the day of my paycheck deposit), and manually edit
the one where the the interest payment is diverted from. I use a
transfer to the liability account for the paying of principal, and a
separate category as home equity interest.
I also keep a spreadsheet in Excel to follow the balance. This always
is exactly like the bank reports, but for an occasional difference of
$0.01, which I fudge in the spreadsheet.