Extra principal payments on a loan

lou_garfinkle

How do I make an extra principal payment for a loan without the reminder changing? Quicken Deluxe for MAC 6.9.0. Mac OS 10.15.7

Jon

If you want to add some extra money to your next regularly scheduled payment without changing the scheduled transaction, the easiest way is to go ahead & mark your upcoming payment as paid. Then you can make whatever changes you want without it affecting any future scheduled payments, because at that point it's a stand-alone transaction.

If you want to make an extra principal payment separately from your normal loan payment, just enter the payment as a transfer from your checking account to your loan account.

But doing either of these things should change the principal/interest split of future payments, so either way you do it your scheduled payments aren't going to be totally unaffected.

Jon

If you want to add some extra money to your next regularly scheduled payment without changing the scheduled transaction, the easiest way is to go ahead & mark your upcoming payment as paid. Then you can make whatever changes you want without it affecting any future scheduled payments, because at that point it's a stand-alone transaction.

If you want to make an extra principal payment separately from your normal loan payment, just enter the payment as a transfer from your checking account to your loan account.

But doing either of these things should change the principal/interest split of future payments, so either way you do it your scheduled payments aren't going to be totally unaffected.

lou_garfinkle

I would have to go back and change to the original loan settings after making an extra payment in the scheduled transaction.