How to fix mortgage loan amorization
Win10, current subscription Quicken home version (Q). The home mortgage loan feature in Q with automatic entry used to work years ago but not with my 2017 loan. The payment amount principle v. interest was always wrong, the cumm loan bal was wrong, and frustratingly it could not be easily corrected. Q would not even allow me to adjust the loan balance. Every month I had to manually change the payment. Now I have a new loan from Rocket Mortgage (a Quicken loan). When setting up the Quicken loan in Quicken software, the Q program went directly to Q loans and downloaded all the pertinent info; term, interest rate, etc. But the first payment is wrong and does not match the prin/int info from Q loan company which Q provided. Is there a solution other than manually entering the specific info every month? What's the point of having an inaccurate loan feature which is locked in and cannot be corrected. I'm thinking I may be able to adjust the interest rate by some fractional amount to fool Q into working unless there's a fix coming. The Q program should recognize the error if the first payment is manually changed and then seek and use the correct amortization table, or use Q loans to download the payment breakout into Q software. Q is not working with Q. Is there a fix for this?
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