ARMs in Quicken

Sep 19, 2005 2 Replies
B

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?
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M

Oh sure, I'll just look in my crystal ball to figure out the "different types of payments".

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F

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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