MAKING A MORTGAGE LOAN TO OTHERS

JR3766
JR3766 Quicken Windows Subscription Member ✭✭
edited February 2022 in Investing (Windows)
Please tell me how to enter a mortgage loans I make to other people? I loan my personal money direct to various borrowers. I need to be able to track payments received, apply principal to amortize the balance and track the interest earned. I am using Quicken Home & Business for Windows.
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Best Answers

  • Tom Young
    Tom Young Quicken Windows Subscription SuperUser ✭✭✭✭✭
    Answer ✓
    Set up an asset Account in Quicken and post the disbursement of the original loan principal to that Account.  Click the gearwheel in the upper right hand corner of the Account and select "Convert to a Lending Loan..."
  • Boatnmaniac
    Boatnmaniac Quicken Windows Subscription SuperUser ✭✭✭✭✭
    Answer ✓
    More detail on this process can be found at How do I set up a loan for which I am the lender?

    Quicken Classic Premier (US) Subscription: R62.16 on Windows 11 Home

Answers

  • Tom Young
    Tom Young Quicken Windows Subscription SuperUser ✭✭✭✭✭
    Answer ✓
    Set up an asset Account in Quicken and post the disbursement of the original loan principal to that Account.  Click the gearwheel in the upper right hand corner of the Account and select "Convert to a Lending Loan..."
  • Boatnmaniac
    Boatnmaniac Quicken Windows Subscription SuperUser ✭✭✭✭✭
    Answer ✓
    More detail on this process can be found at How do I set up a loan for which I am the lender?

    Quicken Classic Premier (US) Subscription: R62.16 on Windows 11 Home

  • JR3766
    JR3766 Quicken Windows Subscription Member ✭✭
    IT WORKED PERFECTLY!!! THANK YOU
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