Stack Exchange Network

Stack Exchange network consists of 174 Q&A communities including Stack Overflow, the largest, most trusted online community for developers to learn, share their knowledge, and build their careers.

Visit Stack Exchange

Questions tagged [loans]

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.

0
votes
1answer
26 views

Can I port a loan for a 2nd home to my primary home?

My primary home is paid off and I'd like to port my loan from my second home to my primary so I can write off the interest. My primary home is worth a lot more than the loan. I have a great rate and ...
0
votes
0answers
31 views

The United States: Can the low interest rates of the treasury lead to hyper-inflation? [on hold]

As many of you are aware, the us treasury has been slowly hiking interest rates since they were at 0% sometime during the 2008 recession. While the treasury hiking interest rates slowly gives some ...
1
vote
2answers
167 views

Is a Masters degree in a high-paying field worth it? [on hold]

I give as a follow-up to my first question, a more reality-driven premise and question. I ask: Is a Masters degree in a high-paying employable field worth it? You need 4 pre-Masters (aka post-bacc) ...
18
votes
6answers
4k views

What are things to think about when paying for/taking out a loan for graduate school? [on hold]

I haven't seen a lot of posts related to graduate school in this SX, but I apologize if there are. I bolded the crux of my question. I'll apply my situation to this question as an example: I got a ...
5
votes
3answers
188 views

What is the best option for repaying student loan?

This is an embarrassing thing for me. Growing up my family believed money is a bad thing that shouldn’t be talked about. I have found this philosophy hasn’t served me well and abandoning it. I ...
5
votes
4answers
353 views

Is home equity worth taking out a mortgage when I have $67k student loans to pay?

Note: home equity isn't the only reason I'm thinking about buying. I'd like to have control over my own living environment, more space, not have to worry about annoying the apartment unit upstairs if ...
1
vote
4answers
149 views

How to reconcile loan statements when balance doesn't add up

I'm helping a friend enter her student loan payments into GnuCash and I've come across something I've never encountered before. Apparently Discover Student Loans are calculated with Daily Simple ...
2
votes
2answers
259 views

why don't banks invest money in mutual funds or shares instead of giving personal loans

Banks offer personal loan at interest rate of 11 %, but why don't they invest those money in mutual funds or shares and earn more ?
0
votes
1answer
57 views

Regarding loan from friends

Is there is limit on the amount of a loan that can be taken from friend? Can a friend give an interest free loan? For how long can a friend give loan?
0
votes
1answer
36 views

How to compare the APRs of different currencies?

I want to take a loan and I have two options: Euros APR: 7.2% terms: 10 years Yuan APR: 9.2% terms: 5 years I have taken some financial classes so I have a vague idea about it. I know there is an ...
2
votes
2answers
110 views

Should Pay Loan Early or Invest?

Loan: 150,000, interest rate: 1.62%, period: 30 years, so monthly payment is about 700. Investable amount per month: 7000. (Don't need to take the returns from the investments to pay the loan.) I ...
1
vote
1answer
60 views

Secure a loan against estate in Texas

I'm a German married to a U.S. citizen, we're living in Germany. My father-in-law is retired and lives on his own property in Texas. Due to some misfortunes and health problems (and the medical bills ...
0
votes
1answer
162 views

Should I make a loan or withdraw all my savings to buy an asset?

Lately, this is a question I've been asking myself, and I don't know which would be best, both on short term and long term. Let's suppose I have around 20,000 to 25,000€ in my savings account (which ...
1
vote
1answer
118 views

Car is under my girlfriends name, can i refinance it?

Last year i needed to buy a car, but my credit was bad atm, so my girlfriend at the time let me use her credit to buy it. Now almost 2 years later i have to buy a diferent car so i can take out of the ...
1
vote
1answer
53 views

Optimizing pay down of multiple loans

Most resources seem to indicate that you want to pay down loans in order of decreasing interest rate. However, I did some manual calculations and found I should be paying down the loans based on the ...
2
votes
2answers
105 views

Is a loan in euros with a 7% interest expensive for a student?

I am admitted to a business school in France and I have just got a quote from Prodigy Finance. The loan amount is about 30000 euros, the fee is 2.5%, and the term is 15 years. The first repayment will ...
2
votes
4answers
1k views

minimum repayment on home loan

How to calculate home loan minimum repayments (before taking out the loan). For example, with a credit card, they clearly state, that you need to make X amount as minimum repayment (maybe 10%) with Y%...
2
votes
2answers
94 views

What is the formula for loan payoff date?

My goal is to calculate loan payoff date. Actually I'm making a wordpress plugin to calculate that. I made a form from I can have following inputs from user. Current Loan Information Original ...
2
votes
0answers
38 views

Are federal pell grants applied on top of college scholarships?

Does the scholarship that your college provide you with include the federal pell grant or is the grant amount an additional amount to the scholarship provided by the college?
1
vote
2answers
172 views

I want to borrow $25,000 for 1 year and pay it back at end of a year?

What type of loan would be best to look for in the US, if I have an already paid off house as collateral for a $25,000 loan for 1 year?
7
votes
1answer
168 views

Consequences of student debt in the UK after moving to the US

My British wife went to university in the UK from 2001 to 2005. She got a student loan with SLC and was never charged anything because her income was too low. She left the UK in 2011, never earning a ...
2
votes
1answer
34 views

Calculating Interest with Compute Method as Canadian - Semiannual

i'm trying to validate a software Interest Calculation. The defaults given are as followed. Interval: Monthly Nominal Annual Rate: 10% Disbursal Amount: $500,000 Disbursal Date 01/01/2018 Payment ...
-4
votes
5answers
332 views

How can a bank go bust when people don't pay their loans? (since loans are created out of nothing) [closed]

When a bank issues a loan to me, the money is created out of nothing on a computer. It's just a record in a database. It doesn't exist. The bank issuing the loan needs to have reserves at the central ...
2
votes
1answer
127 views

If I pay my car loan off will my credit drop?

I've been thinking lately about paying my car off. I owe less than 6k. The payment each month does not really hurt me and I was going to just keep it for on time payments to help my credit and my ...
0
votes
1answer
40 views

How to get my head around FRAs

I'm completely befuddled by FRAs - forward rate agreements. Take a look at this definition ....But, how EXACTLY does that fix an interest rate for me at all? There's nothing in that definition that ...
2
votes
2answers
109 views

Can I reduce the tax penalty on a 401k loan default by making an additional contribution?

I changed jobs recently, not of my own volition. I'm now rolling over a 401k account with my previous employer to one with my current employer. Three years ago I took a 401k loan with a 10 year term ...
0
votes
2answers
149 views

Would it be more beneficial to pay my car loan off first in this situation?

Okay here is my situation. I have a vehicle I'm currently interested in. It's around 42k. My vehicle that I own is worth around 28k KBB. I only owe around $5600 on it. I have the money to go and ...
1
vote
1answer
78 views

In a loan, how does account/admin fees work? [closed]

For a loan, how does monthly/yearly account fees work? Do they get added to the loan balance and will then affect the interest?
2
votes
1answer
168 views

Paying off student loans in anticipation of home purchase

I graduated college in May and have been working full time since. I have $19,000 in student loan debt, all subsidized/no interest yet, that goes into repayment soon. I am also getting married next ...
1
vote
1answer
150 views

Pay off student loans vs pay myself and try to get PSLF? (is my math right?)

I am trying to decide between paying off my student loans in 5 years vs attempting to quality for Public Service Loan Forgiveness (PSLF), which I could conceivably do in 5 years. My options are to 1) ...
2
votes
2answers
117 views

How long do I have to pay back a 401(k) loan?

I have a loan taken out on my 401k through Fidelity. The loan originated on this date: 12/19/2017. I will be leaving my current workplace and moving to a new workplace that uses John Hancock 401k. ...
2
votes
1answer
47 views

Pay off loan with MESP 529?

I made a bad decision and took a 401k loan last year. I question whether I could pay off the loan with a 529 account I have through Michigan education savings plan. I would not be pulling any money ...
31
votes
9answers
10k views

Is it a good idea, to buy a flat with a loan, whilst using the rent to pay it off? [closed]

I have been thinking about taking a loan to buy a flat which I would rent out. My reasoning is that the loan would be paid off over time by the renters. After perhaps 30 years, I'd be left with a ...
0
votes
3answers
150 views

Process of 401k loan removal

I understand that me taking a 401k was not a good idea so please as much as I know people want to tell me that I already know. I made a mistake...and did take a 401k loan out of my current employer. ...
0
votes
3answers
116 views

Auto loan finance for building credit

I recently moved to the USA and I have no credit history. I want to buy a car that costs $18,300. My down payment will be $12,000 and I will finance the balance at 15.4% (extremely high!) over 36 ...
6
votes
2answers
827 views

Bank loan responsibility for corporation partners

I own 25% of a small corporation. My partner (who owns the other 75%) and I took a loan with a bank (TD). We both had to give personal guarantees. Am I only responsible for 25% of the loan? If we go ...
-1
votes
3answers
240 views

Does this derivative contract between friends make sense?

Suppose there is someone with an investment horizon of 10 years (Retired Bob), and another person with an investment horizon of 30 years (Hungry Joe). Retired Bob doesn't want to take risk, but Hungry ...
0
votes
1answer
57 views

Leasing a car on a personal lease vs withdrawing LTD funds to buy it for cash?

Every book, radio show or podcast for people wanting to become/stay wealthy would advise against leasing a car. I agree a car itself is an expensive toy and lease even adds to this equation, but... ...
30
votes
11answers
10k views

Is it a good time to replace my used car?

We have a 2005 Chevy Impala with 105,000 miles that we purchased in 2011. We have made many repairs such as replacing the transmission, repairing the radiator, heating and AC system, thermostat, belt,...
1
vote
1answer
65 views

Why isn't auto insurance included in DTI

The debt-to-income ratio includes monthly payments such as your mortgage, car payments, student loan repayments, and child support. However, it doesn't include payments such as auto insurance. I ...
0
votes
3answers
330 views

How to get out of short-term loans?

I have about 15 small loans ranging in between 4k-10k in local currency, with most being 4k or under. Besides this, I'm currently paying 56k in local currency for a house (I can't cancel/pause this ...
5
votes
2answers
179 views

Loan for mortgage from father to son

My brother got an amazing loan to buy his house from dad for $200,000 but he only pays $150 a month ($100 capital + $50 interest). My question is, is this legal? Doesn't the IRS see this as more of a ...
41
votes
12answers
13k views

Should I buy a house now before prices rise even more?

We rent an apartment in Frankfurt, Germany and we are contractually bound to it for another 1.5 years. We are 33 and 35 years old and there will be children soon. We make around 110k € annually (...
1
vote
1answer
87 views

Lump sum vs interest free loan

I'm considering buying a service which will cost around £6000 (which I consider to be a significant amount). There is a financing option available which allows the amount to be paid off over 24 months,...
1
vote
2answers
53 views

How to Calculate Interest Only Payment - Formula

I am trying to make a calculation for a monthly and biweekly - INTEREST ONLY. My Values: Loan: 30,000 Annual Rate: 2.99% Term 2 Years, 4 Months Calculation: 2 Years 4 Months = 2.33 Years Monthly ...
5
votes
2answers
2k views

What's the deal between the bank and the dealer when you finance your car loan with your bank?

I'm an absolute beginner to car loans, and I was wondering what's going on between the financing agencies and the dealers when I finance my car loan. (My questions are about car financing in the US.) ...
1
vote
1answer
84 views

How to calculate EMI for Quarterly, Half yearly and Annual payments and generate amortization schedule?

I am a software engineer by profession. I am a newbie to finance. I am trying to create a loan amortization schedule. I have the formula for EMI= P*(r*(1+r)^n)/((1+r)^n)-1. How to apply it for ...
0
votes
1answer
73 views

Borrow money to move abroad

I live in the UK, and I am planning to leave the country next year for another European country. I have lived in this country for more than 5 years, and I have an excellent credit score. I have also ...
3
votes
5answers
353 views

Why is it so hard to get a quality loan as an individual?

Currently federal funds rate is 2%, this is about what it should cost for a bank to borrow money from the government. I doubt lending money costs them much more than this. Loans taken by corporations ...
87
votes
15answers
32k views

Spouse wants to pay all debt in a month but I don’t. Is this a good idea?

Between both of our student loans and car loan, we are in the hole about $48,000. My spouse is adamant about paying off all debt in the next month or two since we currently have about $55,000 in the ...