Account Type not offering Mortgage (Q Mac)

4pickering

I recently had a connection issue - I assume since I had updated my OS to the latest patch and rebooted, I'm now required to authenticate (and I'm okay with that for the benefits of security).

The challenge is Quicken is asking me to relink my accounts - a checking, savings, and two mortgages. The problem is in the Type dropdown I am only presented with "line of credit", "Liability" or "Credit Card" as viable options. What's the best recommendation for a choice? The credit card seems wrong.

NotACPA

What type of mortgages are these 2?  Traditional, or Home Equity Lines of Credit, or What? 

Also, what financial institution is your lender?

4pickering

Traditional mortgage - first is a 15yr and second is a 30 yr. Affinity Federal Credit Union is the lender

Frankx

Hi @4pickering

Given the options presented, I would suggest that you use the "Liability" type.  I do not know why you aren't seeing a type that more correctly matches with the actual accounts, but I expect it has something to do with the options that your bank and Quicken have decided upon.

Let me know if you have any followups.

Frankx

Austin@

@4pickering I ran into this issue as well. Here's what I did to fix it.

1. Add the account with the type of "Liability"
2. Once the account is added, open the account settings (clicking "Settings" gear icon in bottom right corner or going to the "Accounts" menu at the top and clicking "Settings")
3. On the "Details" tab of the Settings window, click the "Convert to Loan" button
4. Click the "Add Loan Terms" button that appears after converting the Liability to a Loan account
5. In the Loan Terms window, set the Loan type to "Mortgage"
6. Add the terms of your loan, set up a reminder (if desired), and you should be good to go. Quicken will maintain your connection to the online account to make sure the balance is up-to-date.

Hope that helps!