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"What if I" loan payoff estimator not working (Q Mac)

quickone
quickone Member
The mortgage loan scenario function isn't working in Mac v. 6.1.1. "'What if I' Make a One-time payment" function doesn't calculate interest or time savings even close to correctly. It was BUSTED in this latest release.

Best Answer

  • quickone
    quickone Member
    Accepted Answer
    Ok, I fixed it...for now.
    On the Loan "Payments" screen, Quicken said that my next payment was due on Feb 1st. That was incorrect. I had already paid through March. In the "Edit" screen, the next payment date was correctly displaying as April 1st. I changed this date manually to April 2nd, and saved it. I then immediately changed it back to the correct date of April 1st.
    After doing this, the next payment date on the Payments screen displayed correctly....AND it fixed the problem with the "make a one-time payment" option in the loan payoff scenario calculator.

    So, just FYI. I'd say it's still a bug. Thanks.

Answers

  • Quicken_Tyka
    Quicken_Tyka Moderator mod
    edited March 14
    Hello @quickone

    Thank you for taking the time to visit the Community although, I apologize that you haven't received a response.

    To better assist you, may I ask that you please provide a screenshot of the loan terms so that I may recreate this issue.

    As for the amounts in interest or time savings, are you seeing "0" in this section or an inaccurate number?

    To learn more about posting screenshots to the Community, please take a moment to review the information available here.

    Thank you,

    -Quicken Tyka

    ~~~***~~~
  • quickone
    quickone Member
    If I enter 50K as a one time payment Quicken tells me that will save me only $161.46 but not effect the time or total interest at all. So, I am not seeing "0" for the calculation (just an absurdly low number) and it is not effecting the time or total interest at all.

    I took a screenshot, but the text editor in both Safari and Firefox for Mac do not have an upload function enabled. I see no icon bar in this WYSIWYG editor.
  • quickone
    quickone Member
    Actually, I see one icon. The editor allows me to enter emoticons only...but not let me upload anything. :) :D :( ;) :/ >:)
  • jacobs
    jacobs SuperUser, Mac Beta Beta
    @quickone  Just drag your screenshot into the text of your reply.
    Quicken Mac Subscription • Quicken user since 1993
  • quickone
    quickone Member
  • MontanaKarl
    MontanaKarl Member, Windows Beta, Mac Beta Beta
    Strange... it works fine for me...6.1.1
    Quicken Windows and Mac subscription.  Quicken user since 1990.

  • quickone
    quickone Member
    "Pay extra each payment" and "want to replay by a specific date" both work fine for me and project the time and interest savings and move the Payoff dotted line.

    It's just the "make a one-time payment" option that doesn't work correctly, doesn't change the payoff time or amounts or move the dotted payoff line.
  • quickone
    quickone Member
    Just made another dummy loan account in the same file. It works with the new account, so don't know why it won't with my real one. Guess there's a data issue. *sigh*
  • quickone
    quickone Member
    Accepted Answer
    Ok, I fixed it...for now.
    On the Loan "Payments" screen, Quicken said that my next payment was due on Feb 1st. That was incorrect. I had already paid through March. In the "Edit" screen, the next payment date was correctly displaying as April 1st. I changed this date manually to April 2nd, and saved it. I then immediately changed it back to the correct date of April 1st.
    After doing this, the next payment date on the Payments screen displayed correctly....AND it fixed the problem with the "make a one-time payment" option in the loan payoff scenario calculator.

    So, just FYI. I'd say it's still a bug. Thanks.
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