I am trying to enter our 10 year interest only mortgage into Quicken
2005 Deluxe, and don't seem to find a way to get it to realize the different types of payments. Can anyone help me with this?- posted
18 years ago
I am trying to enter our 10 year interest only mortgage into Quicken
2005 Deluxe, and don't seem to find a way to get it to realize the different types of payments. Can anyone help me with this?
Oh sure, I'll just look in my crystal ball to figure out the "different types of payments".
An interest only mortgage really isn't a mortgage because you're not paying any of the principal. I would simply set up this mortgage as a loan. Every payment you make is an interest expense. If you ever make a principal payment, it's just a transfer between your bank account and the loan account.
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