Account Type not offering Mortgage (Q Mac)

4pickering
4pickering Member ✭✭
edited May 2022 in Download, Add/Update Accounts (Mac)
I recently had a connection issue - I assume since I had updated my OS to the latest patch and rebooted, I'm now required to authenticate (and I'm okay with that for the benefits of security).

The challenge is Quicken is asking me to relink my accounts - a checking, savings, and two mortgages. The problem is in the Type dropdown I am only presented with "line of credit", "Liability" or "Credit Card" as viable options. What's the best recommendation for a choice? The credit card seems wrong.
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  • NotACPA
    NotACPA SuperUser ✭✭✭✭✭
    What type of mortgages are these 2?  Traditional, or Home Equity Lines of Credit, or What? 
    Also, what financial institution is your lender?

    Q user since February, 1990. DOS Version 4
    Now running Quicken Windows Subscription, Business & Personal
    Retired "Certified Information Systems Auditor" & Bank Audit VP

  • 4pickering
    4pickering Member ✭✭
    edited April 2022
    Traditional mortgage - first is a 15yr and second is a 30 yr. Affinity Federal Credit Union is the lender
  • Frankx
    Frankx SuperUser ✭✭✭✭✭
    Hi @4pickering

    Given the options presented, I would suggest that you use the "Liability" type.  I do not know why you aren't seeing a type that more correctly matches with the actual accounts, but I expect it has something to do with the options that your bank and Quicken have decided upon.

    Let me know if you have any followups.

    Frankx

                            Quicken Home, Business & Rental Property - Windows 10-Home Version

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  • Austin@
    Austin@ Mac Beta Beta
    edited April 2022
    @4pickering I ran into this issue as well. Here's what I did to fix it.
    1. Add the account with the type of "Liability"
    2. Once the account is added, open the account settings (clicking "Settings" gear icon in bottom right corner or going to the "Accounts" menu at the top and clicking "Settings")
    3. On the "Details" tab of the Settings window, click the "Convert to Loan" button
    4. Click the "Add Loan Terms" button that appears after converting the Liability to a Loan account
    5. In the Loan Terms window, set the Loan type to "Mortgage"
    6. Add the terms of your loan, set up a reminder (if desired), and you should be good to go. Quicken will maintain your connection to the online account to make sure the balance is up-to-date.
    Hope that helps!
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