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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1answer
66 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 ...
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1answer
83 views

Employer Letter for NRI Home Loan

Please advise: for an NRI working in US applying for home loan in India, Bank is asking for employer letter, latest salary revision letter from employer and employer ID card etc.. but if NRI is an ...
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0answers
71 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 ...
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0answers
60 views

How to calculate interest charged on my loan given a series of dates & payments?

I want to calculate the interest rate payed for this loan using Mathematica. The initial amount was of 12000€, then they asked to pay 240€ for opening the loan and another 870€ for the insurance for ...
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0answers
50 views

What mix of credit lines and loans is optimal for my credit score?

Mint.com just told me my credit score. It says in the advice section: Try to have a good mix of credit lines open. Creditors like to see that you have both loans and credit cards. If you're low ...
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0answers
42 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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0answers
83 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 ...
0
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0answers
31 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 ...
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0answers
18 views

Difference between various loan calculation modes

There are number of ways a loan can be calculated. I am stuck and not able to find their formaules. Even i find some links but they dont have any option to add Below Line Fees. Actuarial APR APR ...