This tag is a generic tag to be used when asking a question on Loans / lending. If there is a specific question the other related tags like home-loan, student-loans, etc should be used.

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0answers
45 views

What can I change about my situation so that I qualify for a loan in the EU?

I'm a good payer since when I was 22. When I was a student, earning 300€ a month, I already had the credit card using the whole plafond of 4000€ and never jumping a payment. Now that I'm 34 a ...
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votes
1answer
78 views

Season Loan Amortization with Fixed Payments for low season

From Seasonal Loan Amortization I've learned how to calculate Loan amortization with interest Payments and No payments. I'm wondering how do you calculate it when they only want the borrower to pay a ...
1
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1answer
50 views

Auto/car loan or mortgage applications and consolidated hard pulls

I heard on the radio recently that if one applies for an automobile loan or a home mortgage, multiple loan applications show up as one hard pull on your credit report. Is there a time period where all ...
1
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2answers
167 views

Reverse Engineer Loan Payment for amortization

I'm starting to question the Payment amount generated by the software my lender is using, but it could be my calculations that are wrong. I would like confirmation before I proceed. Is my approach ...
1
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2answers
3k views

How can I bring loaned money back to US from India

I am a US permanent resident and I loaned some money to my father in law in India early last year. I transferred US dollars from my US bank account to my NRI (Non resident Indian) account (Indian ...
2
votes
3answers
256 views

Amortization Payments with a delay in initial payments

Typically a loan is disbursed and a month later is when payments are to be made. But there can be an agreement where it's to be delayed for a year or as short or as long as they want. I'm wondering ...
1
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1answer
50 views

what is a good APR when applying for micro loan online?

I found an online loan company offering 7% APR with no credit history.Is it good or bad APR?
0
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2answers
46 views

Can I use a loan from a Roth 401K as a return option?

For the sake of this question presume that my Roth 401K is invested in low-risk bonds paying prime rate. Can I take a loan, put the money into a similarly low-risk investment paying the prime rate, ...
3
votes
2answers
126 views

When borrowing from a 401k, is the 401k the source of the funds, or the collateral?

I understand that borrowing from a 401K is not a good idea. But I still want to be familiar with some of the mechanics. If someone takes out a $5,000 401K loan, is the money taken from the 401K ...
1
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3answers
2k views

Need a loan to buy property in India. What are my options?

I have seen a property in India, and I am planning to buy it. The total cost is $105k, out of which I have $30k of my own. The remaining $75k needs to be financed somehow. I can get a loan in India, ...
2
votes
1answer
75 views

Borrowing money for study abroad…student loans don't apply

I have applied for a masters program in Spain, and I was accepted (yay!). However, now I am faced with the daunting task of determining how I am going to pay for it. My university in Spain is not ...
3
votes
3answers
259 views

Chipping away at large loan, or get rid of smaller ones? Student debt

I am currently $50k in debt from school. I have $9,500 in saving specifically saved for paying off student loans. I am wondering if I could get some quick advice as to what/why I should be paying off. ...
9
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6answers
575 views

Is it okay to be married, 30 years old and have no retirement?

I am a 31 year old attorney with a 10 month old baby. I make $130K a year. My husband is also an attorney, and makes approx. $60K a year. WE both do not have any retirement savings or college ...
5
votes
1answer
90 views

What's the proper way to calculate ROI per year given the ROI for a period of time?

I'm trying to figure out what would be my yearly ROI if I know my ROI for a given period of time. On May 1st, I started invested 8.82 BTC in loans on BitLendingClub and now (August 6th) I have 9.33 ...
2
votes
1answer
108 views

What is an Installment Rate Percentage?

I'm looking at a dataset known as German Credit Data, available here: https://archive.ics.uci.edu/ml/datasets/Statlog+(German+Credit+Data) According to the description... "the dataset classifies ...
0
votes
2answers
155 views

Loan Amortization with Daily Calculation

I'm trying to solve this Loan Amortization Question. Principal = $125000 Interest = 8.5% Compounded semi annually Duration is 10 years (120 months) Monthly Payments Loan given on 7/31/2009 First ...
3
votes
3answers
273 views

Can banks deny that you've paid your loan?

As expressed in the title, can a bank deny it that you've paid back the loan? Or how can you make sure that won't happen? My sister recently got married, but she freaked out when her husband told her ...
3
votes
1answer
165 views

Effects of past unemployment on mortgage refinance

I have gone through all the steps of a home refinance process, including an appraisal, and am waiting for a final decision. Just a few days ago, the loan officer processing my application asked me ...
0
votes
2answers
283 views

Formula for how to distribute a loan payment between multiple loans such that the remaining principal accrues the least interest?

Assume 4 loans (Balance @ p.a. interest): $10,000 @ 5.5% $5,500 @ 7.25% $2,000 @ 5.5% $1,000 @ 4.5% If I am looking to pay $7,250 towards principal only, how would I calculate the ...
0
votes
2answers
119 views

Loan math problem

There was a 9gag post some time ago with the following problem: A car dealer offers Lachlan a car that is priced at $21800, but he only has a $600 deposit. Lachlan's trade-in is actually worth $500. ...
0
votes
1answer
101 views

Could you save money by not paying your student loans

I read an article that discusses a woman refusing to pay her student loans. In the end, she claims she saves money because she defaults on her loans, thus her loans grow without interest, and her ...
2
votes
2answers
427 views

How do I calculate interest on a personal loan with irregular withdrawals and payments?

Several years ago, I loaned money to a family member. They borrowed different amounts at irregular intervals. They are now beginning to repay, so I want to establish exactly how much they owe. I have ...
0
votes
1answer
74 views

What should be the maximum affordable loan earning X per month?

I will be shortly purchasing a car with help of a loan. Suppose my earnings per month is X, what should be the EMI [Equated Monthly Installment] limit ? Till now my monthly expenses are X/4 and the ...
12
votes
4answers
2k views

What should I do with my credit card debt?

I have almost $20,000 in credit card debt and, though I have stopped accumulating it for quite a while now, I'm trying to figure out the best way forward. Can someone please offer advice based on this ...
1
vote
0answers
84 views

I'm paying notes but not the buyer

I recently bought a truck and had a $2000 down payment but was told I needed a co signer because the bank felt I didn't make enough money to pay my note. Well we did the paper work and got the truck ...
3
votes
1answer
114 views

What steps or checks should I do to see if a lending company that cold-called me is legit? Too risky?

A few days ago I got a call from company asking me if I have any outstanding debts and saying they can help me with my debts. Well, I don't have any debts; though I use 3 credit cards, I always pay ...
0
votes
1answer
52 views

How can I calculate minimum payment on quick loan? [closed]

I am working on calculator for quick loans. Client can select how much he will pay monthly. Base on it payment schedule will be calculated. Payment interest depends on 1 payment period. Number of ...
0
votes
1answer
259 views

How can I remove a deceased co-signer from my Auto-loan?

The person who co-signed my auto-loan has died. How can I remove them from the note?
0
votes
1answer
116 views

Is it taxable if someone return me money?

I lent a friend around $10K to help him start a own small business. Now he has started earning money and wishes to return my money plus some extra (~500) to acknowledge my help. Is the money ...
0
votes
2answers
53 views

Does inflation equal more loans? [closed]

I am wondering if the banks are favored by high inflation levels? Do higher inflation levels equal more loans? I am looking for another way of looking at the problems of inflation and not just from a ...
0
votes
2answers
63 views

Are guarantor loans reliable or shady business?

One of the hard things about living in the UK and being an immigrant is paying rent 6 months upfront (of course, unless you have a guarantor... which is usually parents who are not in the UK). My ...
-3
votes
1answer
95 views

Cash needed at low interest for one year. What kind of loan might be appropriate?

I need to borrow about $10k in cash and was wondering what would be the best way to do so(In which I do not have to pay a lot of interest). I need this money for exactly one year. My credit score is ...
2
votes
1answer
123 views

Borrowing from Solo 401K vs Line of Credit

As a quick recap, I'm in the process of doing a gut rehab on my (soon to be) primary residence. I have savings and a line of credit that should cover the full cost, but wanted an alternative source ...
-1
votes
1answer
115 views

Solving for mortgage payment amount and its deduction on the total principal?

This question is stumping me. "Jane has taken out a 20-year, $150,000 mortgage with monthly payments (made at the end of each month) at a stated mortgage rate of 6.8% per year compounded ...
0
votes
0answers
24 views

What loan options are there for minors? [duplicate]

I'm not yet 18, but I have been studying business for quite a while, paper trading, investments, etc. at this point, I'd like to try my hand at building some credit and making some money, but I am ...
7
votes
2answers
2k views

I am under 18 years old, in the US, my parents have terrible credit, how can I take out a loan?

I am under 18, currently shopping for a car. Like many people, I don't have enough money sitting in my bank account to purchase a good car, around $6,000 to $10,000. However, credit checks have ...
1
vote
1answer
390 views

Short term loan from parents and the IRS

My wife and I are purchasing a new home that we're closing on July 1st. The sale of our house closes July 15th. For the down payment on the new house we're a little short on cash and can't use the ...
2
votes
4answers
258 views

60-Day “Borrowing” From an IRA

In brief, I am projecting out a budget for a personal construction project I am having done, and the numbers are very tight. I have some buffer built in, but if I exceed the buffer amount and my cash ...
1
vote
1answer
86 views

Should I pay extra towards my mortgage or HELOC?

My first mortgage has a balance of $147k with 4.75% fixed interest rate. My home equity line of credit (HELOC) has a balance of $87k with prime minus 1.1%. I've been making about $50 extra payment ...
14
votes
6answers
2k views

What do I need to know before getting a loan?

Recently, due to a series of events, I've been finding myself... uncomfortable with my financial situation. I'm not in debt, but my account balance did drop into the low three-digit figures a couple ...
1
vote
2answers
656 views

How do you declare an interest free loan?

In the discussion around this question about gift tax it was said that a loan must be at market rate, or it is not considered a loan. Respecting the wisdom of the people who said that, I'm unclear ...
2
votes
1answer
231 views

Taking out a private loan to pay off student loans

My wife and I have a large sum of student loans (>150k together). She is now out of school and I'm in the latter years of a PhD program. So we both have steady incomes. My loans are from the ...
-1
votes
1answer
63 views

Calculating cost of loan

|fee |interest(5% of 200) |total paying |% of original loan |200 |6 |10 |10+6 |8 (16/200*100) |effective loan |% of ...
0
votes
1answer
110 views

APR without principal repayment?

I've been trying to find out about this own my own but can't seem to work it out via search engines, loan/mortgage websites and excel. When I try to work out how much a loan costs, rates like APR ...
2
votes
2answers
305 views

Can I afford this condo?

I just found a condo I really like and I am debating with myself whether it would be a good idea to pursue it from a financial perspective. I'd like to get some educated, objective opinions on my ...
0
votes
2answers
227 views

Should I pay off my student loans or keep it in the bank? [duplicate]

The interest on my student loans are ~ 2%, should I take the money that I have in my savings and pay more than my monthly payments? I have enough to pay off one loan and still have a nice safety ...
0
votes
3answers
64 views

Personal Loan issuer online service

I have chunk of money that I would like to loan to my brother. I would like to charge him interest same as banks do. Is there a website or online service where I can enter the "loan" amount, ...
1
vote
1answer
66 views

Who originates loans guaranteed by the USDA Farm Service Agency?

The official Guaranteed Farm Loans page says: FSA guaranteed loans provide lenders (e.g., banks, Farm Credit System institutions, credit unions) with a guarantee of up to 95 percent of the loss of ...
-8
votes
2answers
91 views

Balancing an Interest Accrual Rate Between multiple loans

Tags: multiple student loans , balancing interest accruals , student loan help
5
votes
2answers
315 views

How can someone with a new job but no credit history get a loan to settle another debt?

I was recently hit with a large personal debt, something that can't go against my credit score, but might if it ever went to court/collections. However, it came unexpectedly, and I am now looking for ...