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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18
votes
3answers
3k views

Are cosigner finder websites like hireacosigner.com, cosignerfinder.com etc. legit?

I am a foreigner to USA and would like to pursue masters in CS in USA. But based on the current state of USD, I won't be able to pay the costs of tuition on my own. So, I will be taking a loan from ...
0
votes
0answers
11 views

International Student Loan ELI [closed]

I am an international student accepted by the University of Florida for my language training in English. I am also admitted conditionally to California Lutheran University. So after my language ...
13
votes
4answers
3k views

50K, what to do with it? [duplicate]

I'm 26 and a double masters student in transportation planning and engineering. I have received 50k in settlement money; I don’t know what’s the best course of action with this money. Im looking at 56,...
3
votes
4answers
316 views

Can I keep my car loan if I trade in my car?

I have an excellent rate (1.9%) on a loan that has 3 years and roughly $8900 left on it. I’m not sure how I got such a great rate on a 6 year loan but here I am. Anyways I would like to get a new car....
2
votes
4answers
1k views

Using Loan to Invest - Paying Monthly Installments with Monthly Income

I'd like to ask about a different payment method to this question. I use THEAO's first-rate answer there. How much profit or rate of return is required from a financial instrument, say stocks, to ...
2
votes
3answers
377 views

Personal loan while unemployed?

I'm 19 and would like to get a personal loan. I am going to get a job this week, or next week. Would I still be able to obtain a personal loan? I have been told it's not possible. I wanted some second ...
4
votes
3answers
464 views

Please help me calculate interest on a loan

My Ex owes me $66000 and I need to give him a payment plan with 8% interest over 5 years. The monthly repayments need to tier roughly as follows (he's going to earn more in the 2nd and 3rd years and ...
4
votes
1answer
7k views

I signed on as the co-signer on a car loan and somehow ended up being the primary name on the account

I know a person should never co-sign for anyone. I always have. This is why I feel so stupid but I signed on to a car loan 4 or 5 months ago for my ex. I was against it but the fact she was hanging my ...
1
vote
0answers
24 views

Enhancement of the open source lib for calculation of IRR (internal rate rate)

I am cs student , and has been asked to enhance the documentation for open source lib finance.js for IIR (internal rate of return) for various industry Here I am trying to calculate IIR for the ...
3
votes
2answers
176 views

Question about plausibility of an iffy financial transaction in a crime novel

This is a question about a financial transaction in a novel. At the denouement of the book, An elderly, naive, innocent, middle-class couple who have been bilked by a loan racket run by extremely ...
1
vote
1answer
127 views

When I capitalize amortization table, the present value doesn't equal the sum of PV or the XNPV

How is it that when I capitalize an amortization table, the present value doesn't equal the sum of PV or the XNPV formula of all the future payments? If I capitalize the future payments with the same ...
0
votes
0answers
31 views

Who is the “issuer” of an intra-group term loan?

I've tried googling and looking in financial terminology dictionaries to find an answer to this question but I have been unsuccessful so far. My question is quite simple: who is considered the issuer ...
2
votes
1answer
81 views

How to give collateral loan for car in India?

My neighbour wants a loan on his car. What are the legal procedure to give such a loan?
0
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5answers
280 views

Why is interest paid on the outstanding amount instead of the whole amount of a loan?

For a large proportion of loans, why is interest paid on the outstanding amount instead of the entire amount of a loan? For example, for a 100.000 loan with a 10% interest, basic logic would imply ...
1
vote
2answers
344 views

How can I help a 17 year old track and pay me back a personal loan?

I’m selling my 17 year old cousin my car. He wants to make regular payments on it, every two weeks or so. Instead of taking cash, issuing receipts, and tracking this on paper somewhere, I’d like to ...
5
votes
2answers
222 views

Should You Pay Off A Low Interest Loan From Emergency Fund

I have a car loan that is pretty low interest at 3.49%. It has 3k left and I have enough to take it out and still have an emergency fund for rent, and the small student loans I still have. Each month ...
1
vote
2answers
133 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 ...
17
votes
6answers
6k views

How to start toward financial independence

I would like to ask for help from those with more experience on how to achieve financial independence on, say, an N year window where N is large enough to get there but as small as reasonable. I just ...
0
votes
1answer
88 views

loan and interest rate [closed]

A loan payment of $4200 was due 3 months ago, and another payment of $1800 is due in 6 months from now. When should a single payment of 5800.00 be paid to settle the debt if interest is to be 2%?
2
votes
2answers
195 views

How do vehicle loan transfers work?

I'm going to buy a car from a private seller. The seller bought this car from Dealer X couple years ago. Now, the seller wants to buy a new car from Dealer N. The seller didn't like Dealer N's trade ...
3
votes
2answers
1k views

Principal payments [closed]

I have had several business loans and understand that this is not by any means typical. I noticed that for a year my payments were not decreasing the principal on the loan. When I asked the bank why, ...
3
votes
1answer
121 views

Can an individual report data to a credit bureau

What process do credit card companies and financial institutions go through to have the ability to report payments to credit bureaus? Ex. I have money I want to loan to someone. I run a credit ...
1
vote
3answers
129 views

Why are there loans at rates lower than long-term economic growth?

Long-term economic growth is said to be between 8 and 10%/a, yet people get loans for houses at 3.5%/a and loans for random stuff at 5%/a. I kind of understand that people get loans for houses at ...
2
votes
4answers
1k views

who is the owner of Loan money paid back to bank [closed]

There is bank which have account of three persons :-- A = 900 dollar in account B = 900 dollar in account C = ZERO dollar Now if C went to same bank & take 900 dollar Loan from bank on ZERO ...
1
vote
0answers
96 views

Why would a bank only apply your payment to principal? [duplicate]

I have had several business loans and understand that this is not by any means typical. I noticed that for a year my payments were not decreasing the principal on the loan. When I asked the bank why, ...
1
vote
1answer
3k views

How do I apply for a no interest loan from Social Security Admin?

Does anyone have info where to look/apply for the no interest loan Social Security talks about? I cannot seem to navigate thru the directions to actually find application form and where and when to ...
1
vote
1answer
347 views

My mother's car was totaled

My mother was in a car accident and died. Her boyfriend's name is on the title and financing of the vehicle. She made all of her payments on the car. Is he entitled to all of the money since the ...
0
votes
3answers
300 views

What happens if someone defaults on a loan but didnt own the collateral in the first place?

What happens if someone (say Joe) gets a 1k personal loan and puts up a car (Joe's moms) for collateral but Joe's mom had no idea of the loan and Joe isnt on the title
18
votes
7answers
10k views

Is a car loan bad debt?

I've heard people saying that a car loan is considered a bad debt, while a house mortgage is a good debt and so on. My bank is offering 1.49% interest for a 36 month loan or 2.49% for a 37-60 month ...
0
votes
2answers
104 views

How useful is pre-approval from multiple lenders?

How useful is it to get pre-approval from multiple lenders on a home loan? Is it really possible to find better rates this way?
12
votes
8answers
6k views

How much income am I getting by renting my house?

I am moving from Portland, OR to SF Bay area and therefore contemplating whether to sell or rent the house. I am not planning to move back to this house. Property details: Bought for : $267,000 Paid ...
1
vote
2answers
132 views

Residential Mortgage Tilt Effect

The way I understand the mortgage tilt effect is that the lender "prices in" the expected rate of inflation into the contract borrowing rate, so that the lender is compensated in the earlier years of ...
1
vote
1answer
113 views

Why do FNMA and FHLMC impose loan limits?

Why do FNMA and FHLMC announce new loan limits for one to four-family loans? Is there a justification to have something called "conforming" loans as opposed to "jumbo" loans? Is this to separate on ...
0
votes
2answers
200 views

Buydowns when House Market is Weak

I would like to better understand how the buydown works in residential housing market. A typical situation that comes to my mind is that a developer who wants to get rid of excess supply of homes in ...
1
vote
2answers
274 views

Auto loan technicalities in the US

I know what loans are (you borrow money and pay it back plus interest over a period of time), but I have a few questions about the specifics: When you are approved for an auto loan and you proceed to ...
3
votes
1answer
157 views

Why do Loan Discount Points Exist?

Loan Amount Disbursed = Face value of Mortgage in the contract *(1-discount points). Why do we have this type of computation in place in the US? Is this conventional because of some history behind it?...
0
votes
2answers
157 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 ...
1
vote
1answer
77 views

Auto leasing and early payments

If I pay extra on my auto lease, does that go towards the buy out price for the end of my lease? For example if im paying 400 a month for 48 months and my residual value is 11,500 at the end of the 4 ...
0
votes
1answer
73 views

Who to contact about securing bridge loan against future compensation?

I checked money.stackexchange for bridge loan questions regarding the best parties to contact regarding securing a bridge loan. There is also a lot of stuff online about how a bridge loan involves ...
4
votes
5answers
2k views

New car: buy with cash or 0% financing

Here's my current dilemma: should I buy the new car I'm looking at with cash or have 0% financing for 72 months? For reference, here is some info about me: I am currently living at home. My plan is ...
34
votes
4answers
13k views

Why is the car dealer insisting on a loan instead of cash?

I saw a question that said "He (dealer) knocked down the price quite a bit" but my experience is different. The dealership says that they have a US$1500 incentive if I take a loan from their financing ...
2
votes
0answers
101 views

Are prepaid credit cards a form of secured loan?

I was reading about different factors that determines credit score. One of them is having a "good credit mix" (IE having a healthy mix of secured (such as home loan, auto loan) and unsecured loans (...
1
vote
3answers
113 views

Are all automobile leases closed-end lease?

For example, consider entering into a lease contract with BMW SUV X5. As usual, the duration of the lease is 3 years and the lessee is required to make equal install payments during the duration. At ...
23
votes
10answers
20k views

Someone asks you to co-sign a loan. How to reject & say “no” nicely or politely?

Hypothetical situation: A dear friend or family member comes to you and asks you to co-sign for their loan. Let's say the reason they need the money is not a life-or-death type of situation. ...
0
votes
0answers
142 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 ...
0
votes
1answer
205 views

My Car is up for repo my grandfather is a co signer [duplicate]

My Car is up for repo my grandfather is a co signer on the car and recently just passed. I heard that the car will be paid off.. Is that true? By the granffather that passed. I was told that because ...
5
votes
2answers
1k views

How to determine lease vs buy for specific scenario of a Tesla Model 3 I plan to keep 3 years

I want a Tesla Model 3. Like this guy How to determine car loan length as a function of how long I plan to keep a car I (using his words): ...plan to keep for 3 years (see below for why) I am ...
2
votes
2answers
196 views

What should I expect when applying for credit?

EDIT: It has been suggested that this question is a duplicate of Personal loan while unemployed?. In fact it is not a duplicate of that question, because I'm not asking about getting a personal loan ...
11
votes
4answers
3k views

Can LLC legally lend money to a friend?

I have an American LLC with money in the bank. I want to provide a loan to my friend for 3 years for 5%. Is this something I can legally offer if the activity of my LLC has nothing to do with finance? ...
1
vote
1answer
218 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) ...