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Changing the monthly payment on a mortgage

The interest rate on my mortgage was recently lowered and I was able to change the rate in the loan details in Quicken Mac. But how do I change the monthly payment? When I enter the new total payment amount it adds the difference as an extra principal payment. and doesn't change the principal or interest amounts.
I think it doesn't really matter since I balance the principal/interest against the monthly statement manually but I just wanted to see if I was missing something.
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Answers

  • Quicken Diana
    Quicken Diana Moderator, Employee mod

    [email protected]pgapro 

    Thank you for posting in the Community though I’m sorry that you are experiencing this issue with the loan details.

    For a manually entered loan, when the interest rate is edited in the loan details, the monthly payment is automatically adjusted to reflect the new rate. Is your loan connected to the financial intuition?

    If you are able to provide screenshots of the loan details window that would be helpful to get you on the right track.

    Also, please provide the version of Quicken that you are using.

    Thank you

    - Quicken Diana


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