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Step 1
Launch Quicken 2008. From the menu options at the top, click on "Planning" and then click on "Home Purchase Planner."
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Step 2
Read the welcome screen, and then click on "Next" to continue.
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Step 3
Enter your gross income, monthly debt payments, cash available to use as a down payment, estimated interest rate, mortgage term and your desired monthly maximum mortgage payment, and then click on "Calculate." You can change the values to determine the variances in the loan information calculated. Once you have settled on a set of figures, click on "Next" to continue.
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Step 4
Enter the Planned Asset information about the home that you intend to purchase. List a name for the home, a purchase date, estimated home value and the average inflation rate. After entering this information, click on "Next."
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Step 5
Indicate if the home you are planning to purchase will be your primary residence and if you plan to sell it at some point in the future, and then click on "Done."
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Step 6
Verify that the asset information is entered correctly, and then click on "Next."
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Step 7
Enter the Planned Loan information if you already know of the loan you plan to take, and then click on "Next" to continue.
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Step 8
View the Down Payment information, and then click on "Next" to continue.
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Step 9
Enter any Planned Expenses, including taxes, that will be associated with this new home, and then click "Next."
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Step 10
Enter any income that this home may generate; this will only be used if you plan to rent out all or part of the house. Click on "Next" once you have entered this information, if it applies.
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Step 11
Review the Results and Summary, and implement the savings plan if Quicken 2008 recommends that you do so to complete your home purchase plan.
