Split mortgage payments?

It sounds straightforward to me. Just tell Quicken you pay your mortgage semi-monthly.

I checked and I don't see the option. I think Quicken is only designed to make monthly mortgage payments.

D'oh! Didn't think to edit the loan and not just the payment. I see in the edit loan properties where I can change the payment frequency.

Michael Rosen wrote in news:1178763739.842044.315570 @q75g2000hsh.googlegroups.com:

I think your loan account should be set up the way your bank calculates things. If that is with a monthly payment that's split between interest and principal, that is how Quicken should be set up first. Then (I think), if you want to make twice monthly payments, you should set up 2 monthly transfers. The first should be only interest, the second should be both interest and principal (if your interewst is greater than half the total payment). You'll have to manually adjust the split according to your statements.

I must admit that I never had the opportunity to use Quicken's automatic payment setup, since when I would have needed it, it was not available. Now I a HELOC, and payments vary while the HELOC is in the first period, before it becomes a "regular" mortgage.