Extra Principal Calculation for Mortgage
I just upgraded to Quicken Deluxe to add the mortgage loan tracking option. I added my mortgage with Direct Express and it pulled in the relevant info. I currently pay an extra $1500 in principal monthly. When I updated this info, the payoff date only changes by a few months. When I view the payment schedule, I see that only the Oct 1st future payment is reflecting the extra principal payment. Also, if I use the what if calculator selecting the monthly extra payment, it's showing the same update - only reflecting the one extra payment on Oct 1st. I read some other help responses here and tried manually loading my mortgage info and am getting the same results. Is this a glitch or am I doing something wrong? Please help.