Setting up a mortgage

Chris's Avatar

Chris

12 Apr, 2020 08:14 PM

I am having difficulty setting up a new mortgage (loan) account and have it automatically calculate the monthly interest and principle split.

  1. 1 Posted by mhoggie on 12 Apr, 2020 08:59 PM

    mhoggie's Avatar

    just a user,

    I'm used MD to set up a few mortgages over the years. I've not had a problem once I got the exact interest rate set. You might play around with the interest rate until it calculates the correct monthly payment. If you are paying escrow or mortgage insurance, you have to set those up in the mortgage account settings so they don't affect the actual loan principle and interest.

  2. System closed this discussion on 12 Jul, 2020 09:00 PM.

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