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Loan Issues

I'm trying to add a new loan and entering my loan details per my contract, however, my monthly payment in Quicken does not reflect what my monthly payment is per my loan agreement. When I try to adjust the payment amount, it adds the extra amount as an extra principle payment. Why can I not get the information I enter to match?

Best Answer

  • NotACPANotACPA SuperUser, Windows Beta Beta
    edited December 2020 Accepted Answer
    Using both Excel & Quicken, I'm getting a result of $215.35
    You probably need to ask your bank if there are any fees, or other payments, in their  calculated value.
    Q user since DOS version 5
    Now running Quicken Windows Subscription,  Home & Business
    Retired "Certified Information Systems Auditor" & Bank Audit VP

Answers

  • NotACPANotACPA SuperUser, Windows Beta Beta
    You need to tell us the info about the loan, so that we can run the calculations ourselves.
    Also,  what Q product are you running and what BUILD of that product?  Do HELP, About Quicken for this info.
    Q user since DOS version 5
    Now running Quicken Windows Subscription,  Home & Business
    Retired "Certified Information Systems Auditor" & Bank Audit VP
  • Heather118Heather118 Member ✭✭
    Quicken Home, Business & Rental Property. 20202, version R30.14 Build 27.1.30.14

    3.75% interest, 30 years origination amount $46,500. Payment amount $228.00
  • NotACPANotACPA SuperUser, Windows Beta Beta
    edited December 2020 Accepted Answer
    Using both Excel & Quicken, I'm getting a result of $215.35
    You probably need to ask your bank if there are any fees, or other payments, in their  calculated value.
    Q user since DOS version 5
    Now running Quicken Windows Subscription,  Home & Business
    Retired "Certified Information Systems Auditor" & Bank Audit VP
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