Can I connect an asset to two mortgages / (split funding)
Danielle21
Quicken Windows Subscription Member
I have a rental property funded with 2 loans, one for the deposit / build (20%) and the second for the majority of the balance (80%).
How do I satisfy this requirement.
Thanks
Danielle - Sydney
How do I satisfy this requirement.
Thanks
Danielle - Sydney
0
Best Answer
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From C. D. Bales:
Yes; but you will be "connecting" two loans to one asset. You can link as many loans as you like to a single asset account.
Near the end of the new Loan setup process, Quicken asks if you have an asset you want the loan linked to. At that point you can create a new asset account to be linked to, or link to an existing asset account.
If you failed to create a link during the Quicken loan account creation process, you can do so after the loan account has been created. Open the loan account Edit Account Details dialog, and select the asset account from the "Linked Asset Account" dropdown.
Quicken user since Q1999. Currently using QW2017.
Questions? Check out the Quicken Windows FAQ list5
Answers
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Hello Danielle. Appreciate your question.
You can setup more than one Mortgage loan in Quicken. You can setup one for your deposit and for the majority, as long as you have the terms for each loan (interest, term, payments, etc) and can set them up as as automatic payments if you wish.
Hope this helps answer your question. Please let us know if you need assistance.
Respectfully,
~ Quicken Harold.Quicken Harold
Community Moderator0 -
how do you get around it doubling up on the value of the asset?0
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From C. D. Bales:
Yes; but you will be "connecting" two loans to one asset. You can link as many loans as you like to a single asset account.
Near the end of the new Loan setup process, Quicken asks if you have an asset you want the loan linked to. At that point you can create a new asset account to be linked to, or link to an existing asset account.
If you failed to create a link during the Quicken loan account creation process, you can do so after the loan account has been created. Open the loan account Edit Account Details dialog, and select the asset account from the "Linked Asset Account" dropdown.
Quicken user since Q1999. Currently using QW2017.
Questions? Check out the Quicken Windows FAQ list5
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