How do I recalculate loan principal and interest amounts?

Chrisg727

Not sure if this is the right area to post this but couldn't come up with anything better. I set up a mortgage in Quicken for Mac (subscription) and it automatically created the principal, interest, etc. Over time I've paid additional principal so now my calculated principal/interest forecasts are way off. This affects reports on the loan. I would like to be able to recalculate this values so that they are inline with what the monthly totals are and get my reporting back in line with reality.

Quicken Jared

Chrisg727 said:

Not sure if this is the right area to post this but couldn't come up with anything better. I set up a mortgage in Quicken for Mac (subscription) and it automatically created the principal, interest, etc. Over time I've paid additional principal so now my calculated principal/interest forecasts are way off. This affects reports on the loan. I would like to be able to recalculate this values so that they are inline with what the monthly totals are and get my reporting back in line with reality.

Hello @Chrisg727,

I know that mortgage payment details can be frustrating, but I am grateful that you chose to speak with us about this issue on the Quicken Community. Have you tried selecting the Mortgage account from the left-hand panel and then go up to the Edit Loan and Payment Terms window - denoted by the little abacus icon just above the register. You can see an image here:



After that, you would edit the information under the heading Loan Details. It is extremely likely that the Principal is incorrect because of information entered here, which would affect Quicken's calculation. Let me know if you have any further questions, and if there are any new developments.

Thanks,

Quicken Jared