MAKING A MORTGAGE LOAN TO OTHERS

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JR3766
JR3766 Member ✭✭
edited February 2022 in Investing (Windows)
Please tell me how to enter a mortgage loans I make to other people? I loan my personal money direct to various borrowers. I need to be able to track payments received, apply principal to amortize the balance and track the interest earned. I am using Quicken Home & Business for Windows.
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  • Tom Young
    Tom Young SuperUser ✭✭✭✭✭
    Answer ✓
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    Set up an asset Account in Quicken and post the disbursement of the original loan principal to that Account.  Click the gearwheel in the upper right hand corner of the Account and select "Convert to a Lending Loan..."
  • Boatnmaniac
    Boatnmaniac SuperUser ✭✭✭✭✭
    Answer ✓
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    More detail on this process can be found at How do I set up a loan for which I am the lender?

    (Quicken Classic Premier Subscription: R55.15 on Windows 11)

Answers

  • Tom Young
    Tom Young SuperUser ✭✭✭✭✭
    Answer ✓
    Options
    Set up an asset Account in Quicken and post the disbursement of the original loan principal to that Account.  Click the gearwheel in the upper right hand corner of the Account and select "Convert to a Lending Loan..."
  • Boatnmaniac
    Boatnmaniac SuperUser ✭✭✭✭✭
    Answer ✓
    Options
    More detail on this process can be found at How do I set up a loan for which I am the lender?

    (Quicken Classic Premier Subscription: R55.15 on Windows 11)

  • JR3766
    JR3766 Member ✭✭
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    IT WORKED PERFECTLY!!! THANK YOU
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