Trying to setup a new mortgage in Quicken - end up in infinite loop

BobCinNH · January 2022

I'm trying to setup a new offline mortgage in Quicken. Steps:
1. Add Loan Account: Select offline Loan Account
2. Select Loan & Debt (which lists mortgage)
3. Select loan type as Mortgage, enter the mortgage information - $354700, 2.25%, 15 years. Quicken correctly determines the monthly payment (2,264.63). Hit Next
4. Bring up loan details - don't enter any other amounts. Hit Next
5. At Loan Reminder, hit next
6. Hit done. I'm back to step 5. I've tried playing with the split categories (most are zero anyway). Same result. Going between step 5 and 6 until I hit cancel.

Boatnmaniac · January 2022

Hmmm....I just set up a mortgage with the data you provided and it completed properly after the Loan Reminder was set up. One difference I did noticed is that you got a monthly payment of $2264.63 but I got a monthly payment of $2323.59. I would have thought we should have gotten the same results unless the mortgage amount you listed is rounded up from the actual amount.

Have you tried shutting down Quicken and then opening it, again? Sometimes that will resolve a situation where Quicken hangs up.

Chris_QPW · January 2022

Sounds like this problem:
https://community.quicken.com/discussion/7890013/unable-to-set-up-mortgage-account-stuck-in-loop

BobCinNH · January 2022

Doing the "validate and repair file..." process fixed the problem.

Chris_QPW · January 2022

@BobCinNH thanks for reporting back on this.

Trying to setup a new mortgage in Quicken - end up in infinite loop

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