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
2answers
89 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
57 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
35 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 ...
0
votes
0answers
67 views

What is the tax impact of my my parents in England lending me money to pay for my daughters college? [on hold]

My parents want to lend me money to help pay for my daughter college. how does this impact me in regards to taxes
11
votes
2answers
1k 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 ...
10
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
134 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
57 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. ...
0
votes
0answers
26 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. ...
2
votes
2answers
94 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
43 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
67 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
111 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
137 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
117 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 ...
4
votes
2answers
180 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 ...
6
votes
3answers
196 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 ...
4
votes
2answers
117 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
4answers
585 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
71 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 ...
0
votes
1answer
101 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

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
157 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
86 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
66 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
64 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
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
905 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
402 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
48 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
623 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
307 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
88 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
119 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
456 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
38 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
134 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
366 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
215 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
148 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
56 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
126 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
243 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
735 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 ...
5
votes
1answer
531 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
184 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 ...