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
40 views

Advice re claiming money back

My son took out a loan to pay for a a course, the course provider has now gone into administration. My son is still paying for the loan for a course he cant access. My question is - has he any ...
1
vote
1answer
121 views

Loan to buy a real estate 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
78 views

Shouldn't nominal interest rates be illegal? [closed]

First of all, I'm really new to anything related to financial math and the like, but I just can't get my head around these nominal interest rates. The way I'm getting it is that it's just a euphemism ...
3
votes
0answers
61 views

Is the repayment of monies loaned to my company considered income?

I have been working diligently for years to get my business off the ground. I have been funding its monthly operation via my personal funds, each month lending the company (an LLC) just enough to pay ...
14
votes
1answer
2k views

What does it mean if a lender asks for a “title” from your purchase?

My boss at my company has agreed to lend me money to buy a car to use for work, where I would pay him monthly for a couple of months until it is paid off. Upon giving me the money, he asked me to ...
0
votes
0answers
58 views

Need Help Paying For Previous Semester of College

I went to University of Southern Mississippi for 2 years until they denied me getting financial aid. I did not have my mother's tax return from a tax year that she had not filed at the time. I was ...
42
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 ...
6
votes
2answers
886 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 ...
0
votes
1answer
328 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 ...
1
vote
1answer
40 views

How does a variable interest rate loan work?

I took out a $100,000 loan on my house on a variable rate loan at 4.5% for 30 years. For example, see this calculator. Assuming the interest rate stays the same, the final cost will be $145,000. In ...
0
votes
1answer
96 views

should I save more money to purchase a Used car or borrow from my office?

please suggest me should a save more money to purchase a used car or borrow money from my office where I work. I have half of the amount that costs the car I want to buy. kindly suggest me. PS my ...
6
votes
5answers
617 views

Where can I borrow money for investing?

Where can I borrow money in the US if I have a good credit (730+)? I have heard community unions a good place to borrow money..but the lowest they could get is 12 percent. Can I borrow from a ...
-1
votes
1answer
298 views

Credit Card: Charge from the bank

Let's say I have a debt of $50. Let's say I don't pay for my credit card debts. Next month they will charge me interest upon the money I should have paid ($50 + interest). Now let's say I pay more ...
2
votes
0answers
82 views

Underwriters refusing to use TheWorkNumber

Earlier this year, an underwriting department informed me they are no longer allowed to accept TheWorkNumber for employment verification purposes on any Fannie Mae Freddie Mac loans because of ...
0
votes
1answer
84 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 ...
0
votes
1answer
69 views

What is the formula for loan payoff with daily compounded interest and monthly payment?

My goal is to make a graph using this formula for all possible monthly payments. Let's say... Loans: 21750 Monthly Payment: 220 Daily Interest: 4.0% / 365 What formula would I use to get the total ...
2
votes
4answers
441 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
36 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 ...
1
vote
2answers
59 views

Taking a student loan without any history of credit?

I'm 18 years old and I'm considering taking a student loan as all the alternatives are exhausted and I can't continue my undergraduate studies without a loan. I don't have a history of credit and my ...
1
vote
4answers
89 views

Pay off car or use money for down payment

I have a 3 year old car that has a blue book value of around $14k. I owe $7k on the car still w/ 2 years left to repay. I'm thinking about trading it in (need AWD... too much snow in Chicago the last ...
6
votes
1answer
342 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 ...
2
votes
1answer
206 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
1answer
118 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
1answer
54 views

What kind of taxes should I expect from a business loan interest?

For example, if I lend a small business $100,000, and they'll pay me back $10,000 in one year. How would I expect taxes to be done? Would the $10,000 be considered ordinary income, or capital gains, ...
0
votes
1answer
119 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 ...
0
votes
2answers
232 views

Does anyone offer no interest loans?

Is such a loan possible, where the borrower repays back to the lender the exact sum that was borrowed in the first place? Say for example, a borrower receives $100 loan from the lender for 10 years, ...
-3
votes
2answers
94 views

Would the lender care about getting regular payments, or just their total interest? [closed]

What will be the banks or lending institutions be more interested in; Making interest on a loan in a uniform manner Simply netting the required amount of interest In the second case, it wouldn't ...
3
votes
2answers
727 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
85 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
524 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
180 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
332 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. ...
1
vote
1answer
415 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
262 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 ...
9
votes
2answers
297 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
78 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. ...
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
529 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
367 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
157 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
132 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
162 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
14k 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
654 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
92 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 ...
0
votes
1answer
36 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
374 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 ...