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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2
votes
0answers
39 views

monthly payment discrepancy

I recently took out a loan as follows: loan amount: $116,000 interest rate: 4.75% term: 360 months When I calculate the monthly payment it comes out to $605.11/month. This is the answer whether ...
1
vote
1answer
107 views

What can I do when a vendor goes into administration before delivering everything I've paid for?

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 ...
4
votes
2answers
147 views

What happens when a promissory note wasn't specific enough about interest?

My mom loaned a 'friend' some money a few years ago, which was supposed to be paid monthly. Since then the friend has been paying sporadically and they are now in a disagreement over what the ...
0
votes
1answer
33 views

Refinancing Loans from USA to India

I have a friend living in USA who is a US citizen. He can take a loan of X$ from a US bank as a personal loan or a business loan. Can he finance my company in India with this loan he availed from USA ...
1
vote
1answer
429 views

Are companies like EquityZen legitimate and useful?

There are a list of companies claiming to provide liquidation for employees who have ISOs in private startups but don't have the means to exercise them (because of the ridiculous amount of phantom tax ...
8
votes
4answers
1k views

Co signing a loan and having them leave the state with no contact information

I helped my now ex get into school by co signing a loan. I have made great attempt on contacting her through friends and family. She has left the state and won't talk to me about our responsibilitys. ...
7
votes
1answer
67 views

For the purposes of building credit, does dividing up a loan help?

I want to enhance my credit with share secured loans (I'm a member of a credit union). All else being equal, will paying off 5 $200 loans give my credit score more of a boost than one $1000 loan?
0
votes
0answers
34 views

Calculating a blended interest rate for amortization schedule

I have two interest rates, 3% and 3.018% compounded semi annually, I was wondering is it possibly to have one interest rate or do they have to be kept seperate to calculate interest properly. ...
3
votes
1answer
86 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 ...
0
votes
1answer
131 views

Buy a new home or stay on rental flat?

I got married a year back. My husband and I both are working professionals. we both are earning well and can save 50000 per month combined after deducting our rental of 25000 per month and all other ...
1
vote
1answer
69 views

How to get loaned money back to US

I had loaned about 150 K money to a relative to purchase a house in India over a period of 8 years. The house never materialized due to some conflicts. My relative is returning the money back with ...
1
vote
1answer
79 views

Looking for an ROI formula, brain is broken today

This is honestly a pretty simple problem, but for whatever reason I am not able to pull it all together. I was talking theoretically with a friend and neither of us can nail down the math so I coming ...
6
votes
1answer
6k views

Home loan transferred to Freddie Mac — What does this mean?

I got a letter saying that my mortgage loan was "sold to Freddie Mac or to Freddie Mac as a trustee." Other interesting wording is that "the transfer of ownership... has not been publicly recorded." ...
7
votes
2answers
255 views

Should I get a car loan before shopping for a car?

I'm looking to buy a used car* for the first time in my life. I already know the price range I'm looking at (Under $10,000) and the loan term I'd prefer (5 years) and the down payment I'm willing to ...
1
vote
1answer
122 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
107 views

Should I make partial pre-payments on an actuarial loan?

I discovered today that a loan I took out for home improvements doesn't use simple interest. I'm pretty frustrated with myself for not realizing this before I signed for it. Regardless, I'm trying ...
2
votes
2answers
95 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 ...
0
votes
2answers
82 views

Getting loans from Foreign banks

The interest on bank loans is 10% in India. Instead, is it possible to get loans from USA banks to India at 3.3-4% for a project ? Is this what is called hedging or hedge funds ?
0
votes
1answer
41 views

How do investments on projects work

I am a newbie with loans and investments. I really want to know the difference between loans and investments on a project. I have a solar project for which I am looking for investments. I heard that ...
20
votes
1answer
1k views

Paying off home mortgage and lender wants a “Recording Fee”

So I whittled down my house note to the point where I have enough cash to just pay it off early and be done with it. Yay! I asked my lender for a "payoff" statement, which provides an accounting of ...
12
votes
2answers
2k views

Mortgages: What is the terminology for how much I own and how much I still owe?

I'm looking for the terminology related to my home mortgage. The word or phrase for how much of my house I own. The word or phrase for how much I still owe. For example, suppose I bought a $500K ...
11
votes
7answers
6k views

Paying $1000 a month to keep a car in New York City

I am 25 working in New York city making ~117k a year. After tax and various pre-tax deductions, (mta fare etc) my take home is just shy of 6k a month. I pay $1875 in rent a month for a nice ...
1
vote
1answer
140 views

Can anyone help me understand my loan payment?

My loan was $40500 for five years with 9% interest per year. I do not understand the total I would have to pay. I have been paying 700 per month since 2006 and it feels like I've been paying forever. ...
1
vote
1answer
62 views

Strategy to save the most on interest

I'm planning on applying for a credit card that offers 0% APR on balance transfers for 15 months and $0 balance transfer fees. I'm thinking on using this card to pay down some of my student loans. ...
2
votes
2answers
101 views

What is this option offering me on my loan repayment?

I was just updating my auto-repayment for my student loan, when I was given the following option: I am not sure what the difference is here between these two options - why would allowing interest ...
0
votes
2answers
44 views

help with how a loan repayment is calculated

can anyone shed some light on how my finance company calculated my loan installment to be 4 payments of £163.08 and a final payment of £163.13? i have used amortization simple interest calculations ...
1
vote
2answers
7k 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 ...
0
votes
1answer
105 views

I signed on as the co-signer on a car loan and somehow ended up being the primary name on the account

Okay. I know a person should never co-sign for anyone. I always have. This is why I feel so stupid but I signed on to a car loan 4 or 5 months ago for my ex. I was against it but the fact she was ...
0
votes
1answer
112 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 ...
2
votes
1answer
152 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 ...
2
votes
2answers
123 views

What's the best use for this money? Its only a small amount but can make a big difference to me

Around two years ago, after working and living in France for a year I came back to the UK and was £11,000 in debt due to 2 credit cards and an Apple loan for some computer equipment. On top of that, I ...
6
votes
3answers
197 views

Loan-with-PMI vs other loan: which is best to pay down

I would like to understand whether it is better to make extra payments on a home loan that includes PMI (Private Mortgage Insurance) or a different (high interest) loan. Typically, when deciding ...
0
votes
4answers
596 views

Using Loan to Invest - Paying Monthly Installments with Monthly Income

I'd like to ask about a different payment method to this question. I use THEAO's first-rate answer there. How much profit or rate of return is required from a financial instrument, say stocks, to ...
2
votes
1answer
87 views

Loan from friends living abroad

My friends living abroad [non Indians] are ready to provide me financial loan for the purpose of education of my children. If this money comes via inward remittance, what should be the appropriate ...
1
vote
1answer
190 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
88 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 ...
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
71 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 ...
43
votes
12answers
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
915 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
466 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
51 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 ...
6
votes
5answers
634 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
318 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
93 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
200 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
470 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
41 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
4answers
194 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
382 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 ...