How do I set up twice monthly mortgage payments?

I recently switched to two mortgage payments per month and can't figure out how to make the change in Quicken (subscription service).
It would seem that, given that Quicken loans has a biweekly payment option they would support more than just monthly payments.

Best Answers

  • Sherlock
    Sherlock SuperUser ✭✭✭✭✭
    Accepted Answer
    Biweekly is not twice monthly and Quicken Loans is an entirely different company.

    To set up a twice monthly loan payment reminder, select Twice per month in the Payment schedule: pull-down menu in the Loan Details window.


  • Sherlock
    Sherlock SuperUser ✭✭✭✭✭
    Accepted Answer
    DebRun said:
    I set it up manually several months ago.
    Quicken - Deluxe, 2020, R31.12, 27.1.31.12
    My Loan Details screen has fewer choices and the only options are reminder vs. memorized payee.
    I hope that the image I pasted shows
    If the terms of the loan changed, open the account and select Edit Terms... on the Loan Detail view.

    Before making significant changes to your data file, save a backup: press Ctrl + B

Answers

  • Sherlock
    Sherlock SuperUser ✭✭✭✭✭
    Accepted Answer
    Biweekly is not twice monthly and Quicken Loans is an entirely different company.

    To set up a twice monthly loan payment reminder, select Twice per month in the Payment schedule: pull-down menu in the Loan Details window.


  • Hello @DebRun

    Thank you for reaching out on the community and telling us about your issue. I do apologize for the issue you're having. If we could get a couple of more details it may help. I believe you have the loan set up manually but to be sure if you're able to confirm. If it's a downloaded loan we're not able to add transactions manually but we'll need more information to see what exactly we can do.

     Once you get  a chance let us know more and we'll take a deeper look!

    Thanks,

    Quicken Francisco


  • NotACPA
    NotACPA SuperUser, Windows Beta Beta
    Why can't you set "Twice per month" as the payment schedule?

    Q user since DOS version 5
    Now running Quicken Windows Subscription,  Home & Business
    Retired "Certified Information Systems Auditor" & Bank Audit VP
  • DebRun
    DebRun Member
    I set it up manually several months ago.
    Quicken - Deluxe, 2020, R31.12, 27.1.31.12
    My Loan Details screen has fewer choices and the only options are reminder vs. memorized payee.
    I hope that the image I pasted shows
  • Sherlock
    Sherlock SuperUser ✭✭✭✭✭
    Accepted Answer
    DebRun said:
    I set it up manually several months ago.
    Quicken - Deluxe, 2020, R31.12, 27.1.31.12
    My Loan Details screen has fewer choices and the only options are reminder vs. memorized payee.
    I hope that the image I pasted shows
    If the terms of the loan changed, open the account and select Edit Terms... on the Loan Detail view.

    Before making significant changes to your data file, save a backup: press Ctrl + B
  • DebRun
    DebRun Member
    Great! Edit Details was what I needed.
    Thanks!
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