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How do I treat a fixed principal HELOC payment in Quicken?

My Rocket Mortgage loan is structured with a fixed principal, variable interest payment each month. Therefore, the total payment and interest varies each month. I cannot find a way to set up such a mortgage loan structure in Quicken to provide an accurate payment schedule and have to manually adjust the interest and principle to match my statement. Is there any way to resolve this?

Comments

  • Frankx
    Frankx SuperUser ✭✭✭✭✭
    Hi @bailey79,

    You should be able to setup this loan for download in Quicken, which will enable you to download loan payments including the variable allocation to interest.  I believe that Rocket Mortgage is a subsidiary of Quicken Loans, Inc.  - which is a lender recognized for download in Quicken.


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  • bailey79
    bailey79 Member
    As it turns out, my Rocket Mortgage account was set up through my brokerage and the only way to Login is to access through the brokerage account. So, there is no way for me to download the transactions directly into quicken. Thanks anyway, Looks like I'll just have to continue updating loan details to approximate the payments, then manually adjust them when they actually post.
  • Frankx
    Frankx SuperUser ✭✭✭✭✭
    Hi @bailey79,

    Sorry to hear the direct download won't work, but thanks for getting back to me.

    Frankx


    Quicken H&B-Subscription - Ver. R29.20 - Build 27.1.29.20  - Windows 10 Home - Ver. 2004
                                             - - - - Quicken User since 1984 - - - 
      -  If you find this reply helpful, please click "Helpful" (below), so others will know! Thank you.  -
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