Trying to tell quicken the P&I on my mortgage

scottmonte

Hi I'm trying to setup my mortgage in quicken. I don't have the initial balance from when the mortgage changed hands, so I think this is throwing me off. In the terms, I'm putting in the P&I that the mortgage company is actually charging me but it is not recording it as such, it's putting 1.09 in extra payments.. which messes up my extra payment I actually want to apply later. How do I just tell quicken to use the P&I I'm getting charged?

scottmonte

I found the original paperwork from the closing, put in the disbursement date and the original amount and things match up now.

NotACPA

Are you downloading into this mortgage? It doesn't quite sound like that, but I wanted to check. Downloading into the account from which you pay the mortgage is fine, it's just that downloading into the mortgage itself has issues.

Have you used the Mortgage Wizard in Q to set up your payments? You should still be able to use it when you're already into the mortgage. How do the Wizard payment calcs compare to the lender's?

And, if you don't mind, telling us the terms of your mortgage including the balance from the last statement and the original date will allow us to compare results to our own calcs.

scottmonte

Problem may be that I'm looking at statements from the new provider (original provider sold the mortgage). No where in the statements does it tell me what the original balance or loan origination date is. wondering if that is what is causing the discrepancy.

scottmonte

I am not downloading the mortgage into quicken. provider doesn't seem to support loan accounts.. just keeps erroring out.

UKR

https://community.quicken.com/discussion/comment/20435831#Comment_20435831

The first printed monthly statement from the new provider should show you the balance as of the conversion date. Not sure if that balance is available on the website as of today, but it should be available when looking through the PDF files for each monthly printable statement. Ditto for escrow, if amounts are being withheld for insurance and taxes.

The last monthly PDF statement from the old provider should also give you a clue as to the amount transferred.

QuickUserPSP

@scottmonte you should be able to go back to the prior provider's statements and verify that the loan details and ending balance match what the current provider has for the loan details and starting balance. If you find any discrepancies or have any questions, the current provider should be able to answer them.

Before even trying to get this loan onto Quicken, I think you should make sure that the loan amounts reconcile between the old and current provider, and the loan details match between the two.

scottmonte

I found the original paperwork from the closing, put in the disbursement date and the original amount and things match up now.