Editing scheduled mortgage payment

I don't know if anyone has gotten the Quicken calculation and the mortgage company calculations to agree exactly. The differences will be in the precision of the calculations done by Quicken and by the mortgage company, the way each of them round, and even in the way they have their computers do the arithmetic. You don't have any control over any of those things at your mortgage company or in Quicken.

The split between interest and principal will also vary from month to month depending on the date your payment is made and the number of days since the last payment was made. That will vary from month to month not only because of the difference in number of days in a month, but also because sometimes your payment date (even if automatically deducted) will occur on a holiday or other non-banking day.

Since I have to check anyway to see when the payment is actually applied, I also check the split and simply make the small adjustment in my check register each month.

Bernie

My experience has been the same as Jon's - agree to the penny - through several years.

This is for a mortgage that is based on a fixed payment date; e.g., payments due on the 1st. If I pay early or late [up to two weeks] the interest charge does not vary. Interest is in effect calculated on the basis of 12 equal months. This is how QW is doing the calculation. Some lenders use the date of receipt to calculate the interest due since the previous payment and in this case it will be nearly impossible to keep QW exactly in sync. QW simply does not have the ability to handle this type of interest calculation.