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FAQ: How do you set up an interest only loan?
Unknown
Member
January 2013
edited July 2018
in
FAQ'S (Windows)
An equity loan with interest payments only. Principal repayment as desired. Defined date for final principle repayment.
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Howard Roark
Member
✭✭✭✭
January 2013
edited August 2016
CTRL+a, then "Add an Account"; or click "Add an Account" at the foot of the Account Bar.
Choose "Loan", then "manual loan account" (bottom of dialog box).
Fill out the loan details and allow Quicken to compute the payment amount.
Click "Next".
Note the interest amount, then click "Back".
Change the Quicken computed payment amount to the interest amount you noted in the previous step.
Click "Next", and complete the loan setup process.
1
Unknown
Member
January 2013
edited February 2019
Thanks for the help.
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Comments
Choose "Loan", then "manual loan account" (bottom of dialog box).
Fill out the loan details and allow Quicken to compute the payment amount.
Click "Next".
Note the interest amount, then click "Back".
Change the Quicken computed payment amount to the interest amount you noted in the previous step.
Click "Next", and complete the loan setup process.
Thanks for the help.