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.

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1answer
140 views

How much do whole life policy loans typically cost?

I've been looking into whole life insurance policies. I keep hearing that policy loans are very cheap, but haven't heard any actual numbers. What rate are policy loans typically loaned out at right ...
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1answer
99 views

Tax Implication on loan by NRI to another NRI above INR 30 lakhs

I am an NRI in KSA . I paid a loan of 30 Lakhs (interest-free) to my UK friend during FY 2013-14. I paid it 15 lakhs from my NRO A/C and 15 Lakhs from my NRE A/c. My fund source in both A/cs is my ...
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1answer
26 views

Calculating duo loan monthly reimbursements

Instead of taking a single loan of 200 000 at 1.7% over 25 years, I've been proposed to take out two loans: 100 000 at 1.2% over 15 years (loan A), 100 000 at 1.7% over 25 years (loan B) With the ...
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1answer
194 views

Tax benefit on Home Loan

I own one flat (Staying in same flat) for which I am claiming tax benefit on home loan. Recently, I have purchased one more flat, can you please tell me how can I claim the tax benefit for the home ...
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1answer
331 views

Taking a small loan to improve Credit Score

Younger me made some horrible financial mistakes. Now as the idea of a house loan is not a far distance fantasy anymore, I think about how to improve the score. I already read several sources to ...
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2answers
679 views

Calculating true rate of a loan with an origination fee

If I have a loan of 1000 at a rate of 5% for 3 years compounded monthly, but I pay a 100 origination fee, do I calculate the loan on the original loan amount, or the reduced amount (1000-100)?
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3answers
314 views

Retirement planning 401(k), IRA, pension, student loans

Currently I am making 58k/year with a chance for a 10% bonus. (I am pretty sure I will receive this bonus). I'm trying to decide how I want to set myself up for retirement. I'm 23 years old turning 24 ...
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1answer
682 views

car loan but 2 people on title

Can one person take out a car loan but have two people on the car's title?....If I am on the title my son's car insurance drops significantly but he wants to take the car loan out himself (to build ...
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1answer
47 views

home loans and title problems

Me and a family member bought a house with both names on the title but my family member names is on the loan, now we want to change the title and loan to my name only, but I heard we can not do this ...
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1answer
54 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 ...
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2answers
211 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 ...
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1answer
201 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 ...
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1answer
2k 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 I ...
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1answer
171 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 ...
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1answer
95 views

How can I calculate minimum payment on quick loan? [closed]

I am working on calculator for quick loans. Client can select how much he will pay monthly. Base on it payment schedule will be calculated. Payment interest depends on 1 payment period. Number of ...
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2answers
353 views

Should I pay off my student loans or keep it in the bank? [duplicate]

The interest on my student loans are ~ 2%, should I take the money that I have in my savings and pay more than my monthly payments? I have enough to pay off one loan and still have a nice safety ...
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1answer
187 views

What is the difference between Protected-equity loan vs Equity loan?

I cannot understand what a protected-equity loan is and how it is different from an equity loan. Please keep your explanation layman and easy to understand. It's a research question for class, for ...
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1answer
2k views

How to Split a loan, and how much should be my investment

I am from India. My idea of the question is to understand what is the loan amount I am entitled to, what should be my plan for applying a loan and is there any ways to reduce interest rate after a ...
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1answer
721 views

How to find if a public company has taken out a loan?

From a company's Income Statement, Balance Sheet, and Cash Flow data, is it possible to figure out if the company has taken out a loan and how much it has taken out?
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1answer
64 views

How to get the effective yield?

I have a system that calculates the effective yield. The problem is what formula does the system used to calculate the effective yield. I am trying to convert the system into a mobile application. I ...
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0answers
141 views

Interest only loan

With an interest only loan that allows extra payments toward the principal, does the amount of interest due reduce or recalculate for subsequent payments as the outstanding principal is paid down by ...
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1answer
40 views

How to create a derivative fixed rate loan?

Just curious. Someone mentioned he can only find variable rate loans, no fixed-rate option (somewhere in Europe). Which I find strange, there has to be some price that makes such an offering viable. ...
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1answer
37 views

Tax benefit on home loan of under construction as well as ready possession property

I am from Pune, India and working in Ratnagiri. I have purchased a under constructed flat as a Co-Owner in FY 18-19 in Pune. Possession will be after four years i.e. 2022. First Owner is my wife. We ...
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0answers
102 views

Can I take my name out of a car loan? [duplicate]

I am in the process of buying a house and the bank requires that my name needs to be taken out of the car loan. My son is the cosigner, and my daughter (whom I bought the car for) is making the ...
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2answers
52 views

Loan vs Balance transfer - how to effectively calculate my way to a decision

Let us say I have $10k in a high interest debt. Or even some money I need to borrow for expenses. I am unable to clear the $10k in one payment and so putting it on a credit card won't make sense. ...
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0answers
64 views

How do I solve this in excel? I think it's a cumulative rolling percentage problem

I have a spreadsheet that shows the following columns. Date, Loan Applications Received, Interest Rate Offered, Cumulative Applications Received, Loans Originated, Average Interest Rate on ...
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1answer
593 views

Algorithm to calculate the Interest on Loan with a Balloon Payment

I am trying to understand the algorithm used by My Calculators.com - Balloon Payment Calculator If I enter the following details: Loan amount: 4556.75 Number of months: 5 Interest rate: 5.75% ...
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2answers
156 views

How do I find out what is the minimum credit rating for a grad school loan (or undergrad) without a cosigner?

I'm in the US, and I'm trying to make a decision about my educational strategy. I have a basic idea of what I can do for unsecured undergrad bank loan, and what credit rating I would need. How can I ...
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1answer
73 views

How do interest calculations differ between loans and savings? [closed]

At the bank or financial institute how are the interest calculation is different from loans and savings? Are they calculated the same way?
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1answer
291 views

What is serviceable income factor and how its use in calculation?

I want to borrow a loan.Loan for 25 years and 3.75% is interest rate.I have calculate a surplus amount but I can't understand Serviceable Income Factor and Interest Rate Buffer. salary=4000; // ...
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0answers
972 views

Calculating interest accrued for 30/360

my typical interest calculation is Actual/Actual or Actual/365. I'm curious to how 30/360 should be calculated if the duration is not from beginning of the month to the end of the month. For example ...
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1answer
85 views

Lowest Interest Options for Short-Term Loan

I am looking for a short-term loan in the amount of $15k to buy some household items. I will be able to return the money in full by 3 months I have a credit score of 760+. Currently, I am seeing ...
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1answer
101 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 ...
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1answer
58 views

APR for a Loan Paid Off in Monthly Payments for 9 Months [duplicate]

Say a loan is issued for 9 months with $1000 principal and with a payment plan consisting of about $162.23 each month. Does this loan have an APR of 46%?
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0answers
38 views

What loan options are there for minors? [duplicate]

I'm not yet 18, but I have been studying business for quite a while, paper trading, investments, etc. at this point, I'd like to try my hand at building some credit and making some money, but I am ...
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0answers
56 views

Credit score impact of shopping around to get the best home loan? [duplicate]

Possible Duplicate: Multiple mortgage pre-approvals and effects on credit score My wife and I are starting the process of buying our first house. We would like to shop around a bit to get the ...
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1answer
118 views

Bankruptcy with liability and credit

Suppose you took a loan and have to to pay it off uniformly. You made more money than you initially thought when you took the loan and have yet to pay 50 000 $ off, but have 20 000 $ credit on an ...
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3answers
314 views

Can you make money by getting a loan, not paying it and renegotiating it or is it a fraud? [closed]

Yesterday, I was wondering about a possible way of making money, which I suspect is a sort of fraud: John Doe gets a loan from the bank He does not pay the bank for months, or years. He receives a ...
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3answers
246 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 ...
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2answers
200 views

Starting a large business with a not so large income? [closed]

It's something people here don't like talking about, but how would one accomplish the funding of a highly expensive business when they themselves don't possess a high income? It would seem that this ...
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1answer
225 views

Proper etiquette for loans from friends [closed]

I'm not sure that there is a universally accepted "proper etiquette" when it comes to repaying a loan from a friend, but I feel it necessary to be absolutely fair in respect of the time value of money;...
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1answer
1k views

Should I sell investment property to pay off student loan debt and variable rate home equity line of credit?

I purchased a home as a primary residence 11 years ago for $210,000. It is now worth $475,000. The mortgage balance is $85k at 3.75% fixed for 30 years (but I am 11 years in). Three months ago, I ...
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1answer
228 views

Will I be turned down for a car loan?

To make a long story short I was working at the same place since I was 18 the past 3 years, and left on good terms two months ago and now I'm self employed. I'm making much more now than I was at my ...
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1answer
658 views

Solving for mortgage payment amount and its deduction on the total principal?

This question is stumping me. "Jane has taken out a 20-year, $150,000 mortgage with monthly payments (made at the end of each month) at a stated mortgage rate of 6.8% per year compounded semi-...
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1answer
83 views

Auto loan Question

I owe 16,000 in a car loan. If I pay 8,000 towards it will it lower the amount of months that I have to pay or will it lower the price of the payments?
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1answer
101 views

Should I wait till after I buy my investment property to get a new job?

So I'm considering buying an investment property. We plan to borrow 100% using our existing property as a security. However, this isn't an issue with cash flow - it's just for tax purposes (we'll ...
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2answers
826 views

How come more interest than principal is paid at the start of repayment? [duplicate]

How come more interest than principal is paid at the start of home loan repayment? What's the rationale?
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2answers
70 views

Calculating APR

If I have a loan at 5% interest over a year compounded semi-monthly does this loan have a higher APR compared to a loan at 5% compounded annually?
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2answers
168 views

Why don't corporations borrow from their savings? [closed]

Here is a question I have had for a long time: Most companies typically sell stocks to raise capital or go to the bank for a loan. But doing the latter - at least to me - puts the company at a ...
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1answer
96 views

Calculating cost of loan

|fee |interest(5% of 200) |total paying |% of original loan |200 |6 |10 |10+6 |8 (16/200*100) |effective loan |% of ...