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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0
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1answer
51 views

How do I get my name out of a bank car loan?

I financed a car and have the title in my name only. My Significant other and I were making the payments together. I had been letting him drive the car while we were together, but after we broke up he ...
0
votes
0answers
22 views

What to consider when taking out a student loan from a bank?

I am currently in a bit of a pickle as I am taking summer classes at a University (at which I am a student), and my father was denied the parent PLUS loan which I was depending on to pay rent and buy ...
3
votes
2answers
702 views

Why shouldn't I consider a 401k loan to myself within my bond allocation?

I have seen broad advice against 401k loans. I question this. Why shouldn't I consider a 401k loan to myself within my bond allocation? Assuming I have trust in my employment cash flow and taxable ...
2
votes
1answer
179 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 ...
40
votes
13answers
11k views

Should I pay off a 0% car loan?

I'm ahead on 0% interest car loan. I don't have to make a payment until October. I currently owe $3,000 and I could pay it all off. Should I do that or leave that money in my savings account that ...
2
votes
1answer
56 views

Wire transfer from India to US

I would like send/lend money from US account to My brother-in-law's Indian account(international wire transfer) for 30 lakhs. This will be no interest loan to him. My brother-in-law needs this money ...
5
votes
1answer
507 views

Financial loan/pension jiggery pokery?

Without my asking my bank has offered me a £10,000 loan over 3 year at 3.8% APR fixed. They say that over 3 years the total amount payable will be £10,586.52. This sounds quite good VFM. On the other ...
2
votes
2answers
171 views

Am I entitled to get a maintenance loan?

I have an conditional offer from a university, course starting in September 2014. I have the UK nationality, but have only lived there for one year (I left when I was about one year old), and am now ...
13
votes
7answers
2k views

Is a car loan bad debt?

I've heard people saying that a car loan is considered a bad debt, while a house mortgage is a good debt and so on. My bank is offering 1.49% interest for a 36 month loan or 2.49% for a 37-60 month ...
12
votes
10answers
2k views

Recent college grad. Down payment on a house or car?

So here's the situation I'm facing. I've recently graduated college but have been working for a while now. I've managed to save up around $10,000 aside for my "money to live" stash. And like most ...
3
votes
3answers
319 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. ...
0
votes
1answer
58 views

Formal Definition of APR

I have seen several conflicting sources on the internet about APR. Some say the effective rate is (1+APR/n)^n -1 while others say this formula is the APR since APR represents the rate over all ...
1
vote
1answer
369 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?
7
votes
1answer
181 views

4 months into a 30 month car loan, need new engine, can't sell any body parts

I just recovered from a major health ordeal, and am disabled. I'm just getting back to work, but being that I've been out so long, so finances are very, very thin. The problem is that I recently (4 ...
5
votes
2answers
815 views

Should I seek loan forgiveness, or paying off my loan quicker?

A little background: I am a public worker who recently learned about a loan forgiveness program. I have already been paying off this loan (since before the program began) and was not aware of the ...
8
votes
2answers
208 views

Why is the money factor defined the way it is?

In some loan situations, especially car leases, people like to talk about the money factor, which is a number given by interest percentage/2400 Where does the 2400 come from? I understand that it ...
3
votes
3answers
3k views

Questrade - What happens if I buy U.S. stock with Canadian money?

Recently, I heard that when you buy U.S. stocks with Canadian money in a Questrade account, they actually make a loan of the U.S. dollar amount you bought even if you have enough money to do the ...
1
vote
1answer
71 views

Take out a loan vs. sell bond investments

I am going to put solar panels on my roof. I can pay for those panels using some combination of the following Take out a HELOC at 3.75% variable interest rate with closing costs covered by the bank. ...
0
votes
0answers
39 views

Loan to buy a house in Germany

Today I have a question about home-loans: I started saving money to raise a small capital in order to submit a request for a loan and since I am totally new to this topic (and some language barriers ...
0
votes
1answer
227 views

How to send full loan amount to India from Saudi Arabia?

I work in Saudi Arabia, I took a loan here, nearly 10 lakhs Indian Rupees (1,000,000 Indian Rupees). My questions are: How to send the full loan amount from Saudi Arabia (money exchange), because ...
2
votes
1answer
3k views

What are the tax regulations and ramifications of personal loans?

Are there any laws/taxes on a personal loan? I realize that you can't just give someone money unless it's under X amount (last I checked I thought it was 14k), but what are the rules around loaning ...
4
votes
6answers
488 views

Pay for a cheap car or take out a loan?

I have $2,000 in total in my savings account for a car but I am starting a better paying job in three months and I will need a car to get to it. At the moment, I am biking to my current job. I am just ...
7
votes
5answers
344 views

Is there any reason to NOT pay the minimum on all but one of our loans?

My wife and I have multiple loans to pay off: car loans, student loans, and a mortgage. Currently we pay the minimum on all but one of the loans, and put any extra we'd like to pay into the ...
0
votes
1answer
146 views

Tax implications of dad paying cash for my home, and me paying him back?

My father found a better loan than us, so we are thinking about him giving us the money for the house, we pay cash for the house so we get it under our name, and then we pay to him every month for the ...
3
votes
2answers
129 views

What are the guidelines for a loan between private parties?

In the United States, I am considering a deal with a very close friend that would involve a loan. Please no answers warning about the potential emotional problems this poses. It's not a concern. I'm ...
1
vote
2answers
144 views

Get a loan, and then repay that loan with the loan itself

Due to some unfortunate circumstances, my credit score dropped 300 points in less than a year. I had a procedure done at the local hospital, which ended up costing around $800. I gave them my ...
6
votes
2answers
13k views

What is the difference between a Loan, a Lien, and a Mortgage?

So, I recently heard someone talk about a Lien as thought it was similar to a Loan. So, I googled various things for a while and came to no concrete, concise answer. If a Lien or a Mortgage is a ...
5
votes
2answers
584 views

Do I have an option to transfer parent plus loans to myself?

My wife and I are currently about to start our payments for student loans. All of our loans are federal student loans through Direct Loans. We also have a parent plus loan, which is technically under ...
3
votes
2answers
89 views

How can I judge loan availability?

I want to apply for home loan ( I am from India ). But I did not know If I am qualified for loan or not. Previous history is that I already have a home loan for a property through my family. That ...
1
vote
4answers
392 views

What is Loan to Value Ratio?

Suppose if I am taking a $50,000 on loan for home or for car or for anything,I have read it many times that LVR is 85% or 80%.what does it mean actually? Is it applicable for Indian citizens too?
0
votes
1answer
32 views

Home Equity Line of credit features and overview

I have a very recent mortgage. I only have about 7% of equity on the home. I've made about 5 payments so far and everything is going smoothly. Now I have a family emergency requiring me to borrow ...
3
votes
2answers
346 views

How to get the lowest mortgage rate on a new purchase?

Looking for a home loan in the mid $400,000, with 20% down on the value price, a first home purchase and in the U.S. What strategies can be applied to ensure the best interest rate possible? What ...
10
votes
5answers
1k views

What are the pros and cons of buying a house just to rent it out?

My situation is that I'm 23 and have about $4k a month of spare income after everything. I'm considering buying a house in the area I come from, a relatively cheap area where I have friends who bought ...
0
votes
1answer
85 views

Is it ok to go to mortgage underwriting with two different lenders at the same time?

I am in a situation where I need to get a mortgage in a short period of time. My situation is unique and I want to make sure the mortgage gets approved. I started working with a small bank and it died ...
6
votes
1answer
290 views

Shopping around for loans without detrimentally effecting credit rating/chance of getting said loan?

I've found myself stuck in a quandary. I put a deposit down on a car and I'm trying to obtain a personal loan based on this. The problem is that I'm finding that despite passing all initial checks ...
0
votes
0answers
52 views

Car loan - Hard inquiry and credit score hit

I recently purchased a new car. Total outdoor price is 20K. I paid 6K and financed the rest. Before I walked into the dealership, I had a preapproved loan from the only bank I applied. It was around ...
3
votes
1answer
122 views

Should I request an car loan before or after changing jobs?

I have a decent credit score (low to mid 700's) and I'm pretty sure I could get approved for a loan. I'll be taking a new job in a new state in a couple of weeks and I would like to get my wife a ...
12
votes
6answers
689 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 ...
0
votes
1answer
59 views

Personal loans and their tax consequences?

In the year of 2014, I had some personal loans from friends, family members, ranging from $1000 to $10,000 for each loan. As a result, my business net was negative because I used the loans to expense ...
1
vote
2answers
99 views

Buying car for cash or loan?

As I asked in another thread, I have job and savings of almost 50k. I am looking to buy a car, probably something used 1-3 years old so that I don't get hit by the quick depreciation on a new car. I ...
0
votes
1answer
86 views

Are 401K loan repayments considered tax deductible?

I took out a 401k loan 1.5 years back for a home down payment. The loan had a 36 month term, and I was making payments thro' payroll deductions from my employer. I recently quit that job, and I am ...
12
votes
7answers
5k views

Advantages of paying more of your mortgage while you know you won't continue to live there your whole life

Recently I bought a house for 140k in the Netherlands. It had a mortgage of 110k (3,0% interest) and a startersloan of 30k (4,0% interest, no payments/interest the first 3 years). I am getting ...
4
votes
2answers
1k views

Lending money to someone: how to book?

I'm trying my hand at double-entry bookkeeping for my personal finances. While I get the gist, I have trouble with the details. Please bear with me if I use the wrong terminology. I have lent some ...
1
vote
0answers
24 views

What factors should go into determining interest rates and other terms for a loan to small business?

If as a private individual (friend/family), I would like to loan money to someone to start a small business: What factors should I take into account when determining the interest rate? Are there ...
3
votes
4answers
1k views

What prevents interest rates from rising?

When you take a loan, you have to pay it back in the form of interest. However to my knowledge interest rates vary over time. What legal factors are preventing the interest rates from spiking and ...
1
vote
0answers
25 views

How is minimum payment calculated for this daily amortized loan?

I'm trying to figure out how the bank calculated the minimum payment for a personal loan. Starting Principle: $6,800 Interest Rate: 13.750% Loan Term: 36 months Payment Frequency: Monthly Start ...
0
votes
0answers
37 views

Estimating rates on potential loans without officially applying

Is there any way to estimate the rates on a potential loan without applying? I'm thinking of some calculator that takes into account: Loan type (auto/revolving/installment/mortgage/etc) Your income ...
1
vote
0answers
83 views

How to recover value from a term life insurance policy?

This happened in Canada. A person has a life insurance policy that matures in 2024 (in 9 years) and he has been paying monthly premium since 1996 (for 19 years). He lost his job and is not able to ...
-3
votes
5answers
182 views

Mortgage vs. Loan?

I understand the math behind how banks calculate the interest to principal ratio throughout the amortization period. I want to know why banks want you to pay as much interest as possible first? In a ...
2
votes
1answer
105 views

Auto Loan just to improve already excellent credit

My credit score is pretty close to 800 (around 780 IIRC). I'd like to do what I can to push it over the line. Loan diversity looks to be the best option. I'll be buying a car soon, and could pay ...