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
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1answer
180 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
293 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
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1answer
142 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 ...
0
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1answer
28 views

Incorrect XIRR value of installment loan?

Using a financial calculator I was able to determine the interest rate of an installment loan with principal of 14975, payments of 444.56 and 60 month term is .2557%. However, when I put the loan ...
0
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1answer
58 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 ...
2
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0answers
74 views

How soon (after your first credit card statement ever) do you get a credit file/history in Canada?

How many days after your first credit card statement EVER does one get a credit report on file with one of the two Canadian bureaus? I'm trying to develop Canadian credit on my first credit card and I ...
1
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0answers
25 views

How is minimum payment calculated for this daily amortized loan?

I'm trying to figure out how the bank calculated the minimum payment for a personal loan. Starting Principle: $6,800 Interest Rate: 13.750% Loan Term: 36 months Payment Frequency: Monthly Start ...
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0answers
24 views

What factors should go into determining interest rates and other terms for a loan to small business?

If as a private individual (friend/family), I would like to loan money to someone to start a small business: What factors should I take into account when determining the interest rate? Are there ...
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0answers
83 views

How to recover value from a term life insurance policy?

This happened in Canada. A person has a life insurance policy that matures in 2024 (in 9 years) and he has been paying monthly premium since 1996 (for 19 years). He lost his job and is not able to ...
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0answers
34 views

Calculate Months Until Loan Break-Even (Lender Perspective)

I'm invested in LendingClub and I want to take a loan and be able to calculate the date that I would break even. I want to know the date when my investment (note amount) equals the total payments ...
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0answers
75 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
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0answers
46 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
84 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
22 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 ...
0
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0answers
40 views

Loan to buy a house 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 ...
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0answers
53 views

Car loan - Hard inquiry and credit score hit

I recently purchased a new car. Total outdoor price is 20K. I paid 6K and financed the rest. Before I walked into the dealership, I had a preapproved loan from the only bank I applied. It was around ...
0
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0answers
37 views

Estimating rates on potential loans without officially applying

Is there any way to estimate the rates on a potential loan without applying? I'm thinking of some calculator that takes into account: Loan type (auto/revolving/installment/mortgage/etc) Your income ...
0
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0answers
80 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 ...
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0answers
20 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 ...