Mortgage/Credit Card Issue

glitterbrenna

Hello All,

Got a new computer, downloaded and installed Quicken for Mac.

Having the same issues as others on the board are- where a mortgage is importing as a credit card. Have tried an offline import, but for some reason the monthly payment information is not calculating correctly and is not able to be edited. Quite annoying, as a key reason I bought this program was to see the specific charts/graphs depicting payoff time when extra payments are made and track my progress.

Any other tips? Thank you.

UKR

The bank may not properly support downloading loan account transactions.

Just my 2cents' worth …
I would not bother attempting to activate any loan or mortgage account for downloading. I would just simply set them up as "offline" (manual) loan accounts with a Scheduled Reminder to record the monthly payment. 
(Not discussing LOC or HELOC accounts here. They should be set up like credit card accounts)

At least in Quicken for Windows, an online-connected loan or mortgage account does NOT have a transaction register. All data shown in the account come from whatever information the bank downloads to you ... if this process works at all.

As a result of being connected, the scheduled payment transaction reminder cannot transfer the amount of principal paid into the (non existent) account register and must use a category, usually something like Loan:Principal, instead. The category seems to vary with the Loan Type you selected when creating the loan account in Quicken.

Effective with Quicken Windows 2018+
you can deactivate an online-connected loan account and regain full control over your transaction register.  However, you should still review the Scheduled Reminder (or Memorized Payee List entry) associated with the monthly loan payments to ensure they now transfer Principal to the loan account register and not to a Category.

If you're a Q Mac user, you should be able to do something similar about setting up and maintaining an offline mortgage account together with a correctly calculated Scheduled Transaction Reminder for the monthly payments from your checking account.

glitterbrenna

Thank you for your detailed response! Unfortunately, my offline set up is not lining up with my monthly payments when entering the loan date/amt/interest/etc.. Will keep trying!