Microsoft KB Archive/171966
Money: Converting a Loan into an Adjustable Rate Mortgage
PSS ID Number: Q171966 Article last modified on 03-25-1999
The information in this article applies to:
- Microsoft Money 99
- == Microsoft Money 98 ==
Money 98 and Money 99 provide support and advice for Adjustable Rate Mortgages (ARMs). If you upgrade from an earlier version of Money, or convert from Quicken, your loans are converted as fixed-rate loans. Money maintains any past interest rate history. To take full advantage of Money support for ARMs, you need to update these types of loans to Adjustable Rate Mortgages.
- In the Accounts area, right-click the loan and click Go To Details.
- In the left pane, click Update Interest Rate. Type the effective date of the first rate change, and then click Next.
- Click Adjustable Rate Loan (ARM), and then click Next.
- Type the date of the next interest rate adjustment and the period between adjustments. Click Next.
- Type the new Principal + Interest payment or leave it blank and Money calculates it. Click Next.
- Type the new interest rate, and then click Next. Money calculates the payment. If it is correct, click OK.
- Click Finish.
For additional information, please see the following article in the Microsoft Knowledge Base:
Q171710 Money 98: How to Track an ARM Loan From Its Inception Date
For more information on ARMs and mortgages, see Money Help.
Additional query words: 6.0 7.0 w_money variable hat
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