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.

learn more… | top users | synonyms (1)

2
votes
1answer
97 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 ...
1
vote
1answer
107 views

Can having a co-signer on a house loan reduce the down payment required?

I have worked as a freelance web designer for 3 years before taking a salary job at a company 6 months ago. I have enough money saved up and make enough at this job to own a house but I doubt I will ...
1
vote
1answer
97 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 ...
4
votes
0answers
96 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 ...
2
votes
0answers
98 views

How to get cash for shares of a small but successful business?

I am owner of a portion (5%) of a small business. I acquired my shares as 'sweat equity' being the creative lead on the project. Essentially, I want to get cash for my shares. At this point in my life ...
1
vote
0answers
65 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 ...
1
vote
0answers
44 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 ...
1
vote
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
votes
0answers
57 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 ...
0
votes
0answers
35 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
0answers
19 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 ...