How do i get my previous mortgage payments to show up in my downloaded mortgage account?

Bobbrant

I refinanced and have made 2 payments. I just set the mortgage up in Quicken and downloaded the info from the company. It is not showing any payment history in the account screen for the mortgage. How do I get it to all show up?

Frankx

Hi @ Bobbrant,

Yes, that was another poster, who probably assumed that you were doing manual entries.
As far as linking the mortgage account on-line, I don't think that is actually available in Quicken (I could be wrong, but in the test Quicken file I use, there is no "set-up online" option available for a mortgage account) and that kind of makes sense to me because Quicken is doing the allocations between principal & interest and downloading transactions (if that were even available) would be redundant.  However. if you decide to do that, make sure you backup your file first in case it causes a problem, and also let us know how that goes.

Frankx

Frankx

HI @Bobbrant,

Since you've just setup the account in Quicken and downloaded from the lender (if I understand you correctly) I am surprised that the download didn't include those 2 past payments.

However, given that you've only made 2 payments, they can easily be added to the account in Quicken manually.  If you have already entered them in Quicken (e.g if you made those payments with checks/transfers from a bank account that is in Quicken), you only need to change the "Category" in Quicken to the account name of the mortgage loan you just set-up.  If the payments are not yet in Quicken, you can add them now as new entries.  In either case, as you probably already know, only the principal portion of the payment goes to the new mortgage account and the interest gets posted to the "Interest Expense" category.

Hope this helps.  Let me know if you have any questions.

Frankx

Bobbrant

Sorry it has taken so long to get back to this. When i go to change over the downloaded checks to the proper category. The new loan is not showing up in the category list. I do not see a way to get it to be revealed. Can you help with that?

thecreator

Hi @Bobbrant ,

When you click on the Mortgage Register, then Payment Details, do you see the Register?

This is a Manual Mortgage Register:



You have Loan Details, Payment Details, Equity and What If Tool.

Frankx

Hi @Bobbrant,

Sure - first make sure that you know the name/title of the new mortgage account.  Then go to the register that you wrote the check/or made the online payment from.  Highlight the payment transaction in the register and tab to the "Category" field, then type [Name of New Mortgage Account]  (where the brackets are around the name you gave to the new mortgage account) and the press "Save".

Let me know how this goes.

Frankx

Bobbrant

Yes that got the payments attached to the loan now because i saw the balance decrease. Thanks for that. To thecreator's point I do not see anything in the register and how do I know that the mortgage payment is being divided by principle and interest? Again thanks for your help.

thecreator

Hi @Bobbrant ,

When you write a check to your Mortgage Holder, it goes for the total amount of say $450.00

You use Split in the Category field.

In position 1. is the Bracket Register for your Mortgage.

In position 2. is the Interest portion of the Total Payment that is paid to the Mortgage Holder, but the Interest portion does not get transferred to the Mortgage Register, only the Principle portion.

Use the Split Transaction to break down which portion is the Principle and Interest portion. You get this the breakdown from the Mortgage Statement each month.

Bobbrant

I have done what you suggested above and the principle portion still does not show up in the registry. Not sure what is going on.

Frankx

Hi @Bobbrant,
Okay - so when you open up the mortgage account in Quicken do you see a page that looks like this? (see below)

If so, click on the "View payment schedule" box and that should show you the payments made and the allocation between principal and interest.  BTW - if you correctly set-up the loan, those allocations are done automatically by Quicken.

Get back to me with any follow-ups.

Bobbrant

I do now. What I had to do was set the mortgage up manually and not let Quicken download the initial information. I had to then change the date on my computer to before the first payment and then use the proper name of the new loan to allow the previously paid transactions to show up in the payment detail tab on the loan screen. So thanks for all the help. Someone did say it was a manual entry and that triggered this way of doing it. Now I am going to try an link the account on line and see what happens unless you think this will not help me.

Frankx

Hi @ Bobbrant,

Yes, that was another poster, who probably assumed that you were doing manual entries.
As far as linking the mortgage account on-line, I don't think that is actually available in Quicken (I could be wrong, but in the test Quicken file I use, there is no "set-up online" option available for a mortgage account) and that kind of makes sense to me because Quicken is doing the allocations between principal & interest and downloading transactions (if that were even available) would be redundant.  However. if you decide to do that, make sure you backup your file first in case it causes a problem, and also let us know how that goes.

Frankx

Bobbrant

You are correct, there is no option to connect the loan. Thanks for your help on this issue.