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Mortgage Amortization: Quicken Deluxe 2020 keeps changing the interest rate

I have a 20 year mortgage @ 3.125 fixed. I entered the information correctly in to Quicken at the beginning of the loan. I notice the split was wrong for a payment and review the terms. The Quicken program changed the interest rate from 3.125 to 3.12. I edit the terms, only to find the program keeps reverting the rate to 3.12. over and over again!
I am tired of continually correcting the payment and terms every month. Am I doing something wrong, or is Quicken incapable of calculating a rate with 3 decimal places?
I am tired of continually correcting the payment and terms every month. Am I doing something wrong, or is Quicken incapable of calculating a rate with 3 decimal places?
2
Answers
What version of Windows or Mac OS are you using?
Version R 27.28
Build 27.1.27.28
Now running Quicken Windows Subscription, Home & Business
Retired "Certified Information Systems Auditor" & Bank Audit VP
https://community.quicken.com/discussion/7869208/multiple-loan-interest-rate-table-bugs
Thank you for taking the time to visit the Community to report this issue, although I apologize that you haven't received a response.
I have a few questions to help me better understand what could be happening.
First, where are you seeing this change in an interest rate? Is this in the loan details of the loan?
How much is this change in interest that is occurring? Is it a few decimals places or more?
Does this occur in multiple loans or have you been experiencing this in one loan account?
The more information you can provide regarding this issue will help the Community to better understand and assist.
Thank you,
-Quicken Tyka
For example, my rate is 6.23% with payment $157.81 effective since 9/7/2019, but Quicken enters it's own line with rate 6.23% and payment $155.50. My payment is the 26th each month, and I've already deleted the rogue Quicken line 5 times this month, and it keeps getting recreated for 7/26/2020. Once I've made my August payment, Quicken will recreate the item with effective date of 8/26/2020 or 9/26/2020. To be clear, Quicken isn't modifying my existing rate/payment lines, it's creating a whole new line at the end of the table, which then means all my my scheduled upcoming payments are based off the rogue Quicken amount.
To make matters worse, I can only edit/delete the first 9 line items in the table; so in order to delete the 11th line Quicken added on it's own, I need to delete lines 9-10 first then reenter.
Thank you for the response and the additional details. May I ask that you please include a screenshot of an example of what you are seeing?
https://community.quicken.com/discussion/7867159/faq-how-do-i-post-a-screenshot-in-the-community-from-windows
I am trying to recreate this on my Quicken file and an example would be helpful!
Thank you,
-Quicken Tyka
Thank you for the response and the additional details!
At this point, I have been unable to recreate this but I now see where you are encountering this issue.
It was mentioned earlier in the thread to validate the file, I do not see a confirmation if this has been completed.
I would start there, Validate & Repair tool on the data file from the File menu > File Operations > Validate & Repair option.
In the Validate File window that opens, click the top box to "validate file" and then click OK.
When the validation completes, a data log will open in Notepad, please let us know if any errors or issues are found/repaired, and when ready close and re-open Quicken.
If the trouble persists after this step, I would recommend contacting support directly for further assistance.https://www.quicken.com/support#contact-support
Quicken Care has the tools to review and research this issue further.
Thank you,
-Quicken Tyka
Are you not able to duplicate the missing Edit/Delete options in Interest Loan Table either? I'm running the latest build (27.1.28.16) and I created a whole new data file and test student loan account, and as soon as I add the 10th rate, I can't edit it. I'm not the only one who's had this issue, and given it happens immediately for me in a new data file, it's certainly a program bug and should be easy to replicate. Here's another discussion I had found with the same problem https://community.quicken.com/discussion/7157640/loan-interest-rate-changes-cannot-be-edited
Thanks,
Becky
Thank you for the response and additional details. While I am not able to create the issue of the interest changing on its own.
I am able to recreate the issue of not be able to edit or delete the loan rates once 10 lines have been entered--I am reporting this issue.
To clarify and to get as many details as possible, do these loans have variable rates, or is it a fixed-rate loan?
Also, to report the issue of the rates changing, would you be willing to submit a copy of your data file to research this issue further?
Please let me know!
-Quicken Tyka
These are variable rate loans, however, I only add new values to the table when the payment amount has changed, to avoid overwhelming the file with too much information. The loan seems to be most susceptible to Quicken making payment changes when I enter these new values. I've had loan accounts be fine for a couple years, and as soon as I enter new payment amount, Quicken starts generating it's own after.
I can provide you with the loan account, if that would be helpful, but I would prefer to not submit the the data file in it's entirety for privacy concerns.
Thanks,
Becky
Now running Quicken Windows Subscription, Home & Business
Retired "Certified Information Systems Auditor" & Bank Audit VP
Now running Quicken Windows Subscription, Home & Business
Retired "Certified Information Systems Auditor" & Bank Audit VP
Thank you for your patience and for providing additional details and clarifying information.
I have gone ahead and reported the inability to make changes to or delete the loan rates once 10 lines have been entered.
I was unable to determine if this the cause of the interest rates changing on their own and I have been unable to recreate this thus far.
This post has been forwarded along with the bug report, however, without a data file and is unable to reproduce the initial issue, that is not being researched at this time.
-Quicken Tyka
This issue is still ongoing with no ETA.
CTP-995
This issue is still ongoing with no ETA.
CTP-995
This issue is still ongoing with no ETA.
CTP-995
This issue is still ongoing with no ETA.
CTP-995
This issue is still ongoing with no ETA.
CTP-995
This issue is still ongoing with no ETA.
CTP-995
This issue is still ongoing with no ETA.
CTP-995