Quicken 2013 - Tracking and amortizing home loan


B

Brynodd

Goals:

1. Set up a Quicken account to keep track of my house loan

2. import previous payments (along with split amounts toward principal)

3. Amortize the loan

Before my account was sold to a new servicer, it was set up in Quicken as aLoan account and was an online account, as the previous bank accommodated transaction downloads. My new servicer does not accommodate Quicken or transaction downloads.


There are about 4.5 years of monthly payments by check (and just this month, I started paying online at the servicer's website, still via checking acct.).

All but one year of payments have a split that includes the house payment and an extra amount toward the principal (the escrow amounts are not split or specified), so it's important that those amounts be considered and applied to the principal in the amotization.

All payments are via my checking account (tracked in Quicken) including theonline payments.

So the questions are:

1.In this case, would I set the new account up as Property and Debt or Loan?

2.How would I populate the new (Loan or P&D) account with the checks I've already written?

3.How would I handle the additional amounts toward principal so that the new account knows to apply them to the amortization?

4.Is there anything I'm forgetting to ask?


I'd like to make this as efficient as possible, yet simple to maintain.

Thanks for any input.
 
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