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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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1 answer
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Car loan pre approved but not finalized [closed]

I bought a car on April 11 2024. I was pre approved . Car dealership did not finalize paper work. My loan sitting in pre approval. Car dealership closed
louis garcia's user avatar
8 votes
3 answers
2k views

How can a senior finance building a home with no current credit score but good equity in current home?

Many seniors have paid off their mortgages and car loans and haven't needed to borrow money in years, hence have no current credit score. Senior wants to downsize home but there is nothing suitable on ...
Eggy's user avatar
  • 339
1 vote
3 answers
196 views

How to calculate the very last payment when repaying a debt?

Suppose I'm repaying a fixed amount every month on a debt such as a credit card debt. Generally, the very last payment will be less than the others, because the total owed will be less than the fixed ...
Guillaume F.'s user avatar
0 votes
3 answers
133 views

Do lenders consider stocks and bonuses as part of your income?

Most tech companies give their employees a basic income plus a certain amount of stocks plus annual bonuses. I am wondering if someone has a $120k salary + $50k stocks + $50k bonus in a year, would ...
best_of_man's user avatar
0 votes
1 answer
97 views

How much does having an installment loan in your credit history matter vs simply having a good credit score?

Let's say you want to buy a starter home (at a reasonable budget for your income level) and have an excellent credit score of ~800, but you have zero history of taking an installment loan (student, ...
Donuts's user avatar
  • 178
0 votes
1 answer
231 views

Is it a good idea to take a loan just to build borrowing history? (United States)

Context My current car, a hand-me-down from a family member, is 10+ years old with ~100k miles and starting to have enough problems that maintenance costs are quickly piling up. Over the last 2 years ...
Donuts's user avatar
  • 178
1 vote
1 answer
69 views

Confusion with payment calculation for fixed payments on fixed interest loan

I'm trying to understand how to calculate the monthly payments on a fixed interest loan with a given term. I understand this can be done with the PMT excel function. Whenever I see this explained ...
popeye's user avatar
  • 13
0 votes
1 answer
96 views

Which loan would be most cost-effective to service first?

I'm currently the debtor of two loans: $620,000 CLP at 0.99% monthly interest, to be paid over 12 equal monthly instalments, starting this month. $180,000 CLP at 0% interest, but adjusted by ...
ppp's user avatar
  • 133
1 vote
0 answers
142 views

Who is actually receiving the loan?

Before signing for a guarantor loan for the first time, in reading the contract I'm confused by this wording Your payment schedule will be: Number of Payments; 24 Amount of Payments; $ 177.13 When ...
Starlene 's user avatar
0 votes
3 answers
120 views

Home renovation payment: Loan with interest, lump sum with discount or quarterly payment with no interest

I have a home renovation that would cost me 50k. The company offer me these options: 50k 15 years loan with 3% per annum fixed interest (monthly repayment) 45k lump sum with 5k discount 5k quarterly ...
sg552's user avatar
  • 101
4 votes
2 answers
202 views

How to calculate monthly payment of a loan

I am trying to solve this question: Your brother-in-law asks you to lend him $100,000 as a second mortgage on his vacation home. He promises to make level monthly payments for 10 years, 120 payments ...
Zeeg's user avatar
  • 43
4 votes
1 answer
1k views

To what extent do restrictions on loans apply?

This is more just a curiosity than an actual real-world problem, but I noticed that most personal loans come with caveats like not being used for business purposes, buying property, stocks and shares, ...
Luke's user avatar
  • 173
6 votes
4 answers
3k views

How exactly does a biweekly payment schedule on your mortgage reduce the amount of overall interest paid over the life of the loan?

Here is how a normal fixed-rate monthly amortization schedule is calculated: First we determine the total monthly payment: Payment = [P*(r / n)(1 + r / n)^nt] / [(1 + r / n)^n*t - 1] where n = 12, P ...
Nova's user avatar
  • 161
0 votes
1 answer
69 views

Loan: calculate number of monthly payments with fixed annual interest, fixed montly payment, and 1 additional payment per year

The situation is the following. Consider a loan of 430,000 units (dollars or whatever). The client will pay 10,000 units per month. The client will pay an additional 70,000 units every 12th month of ...
Meclassic's user avatar
  • 111
0 votes
0 answers
57 views

Proceeds of house sale for study loan

Sale of House proceeds is 50lacs. profit from sale of property 15 lacs. I have student loan 30 lacs. Should I pay student loan first or buy property. My all transactions are in in INDIA.
Vinay Misra's user avatar
14 votes
3 answers
6k views

Which mortgage should I pay off first? Same interest rate and mortgage length

tl;dr: I have two amortized mortgages; one big and one small. The conditions (interest rate and mortgage length) are exactly the same. Which should I pay off first? I have always heard that you ...
genbatro's user avatar
  • 143
-1 votes
1 answer
138 views

How to solve amortization schedule where 10% of the interest is paid back on 4th payment

I am trying to find an algorithm to solve this amortization schedule: P = 1000, term = 12 months, Interest=5%, calculation based on actual/365. 10% of the total interest of the loan is added to the ...
Hiroshi's user avatar
  • 11
0 votes
0 answers
77 views

Are all my sources of income considered when calculating the repayment of my student loan?

Actually, I have two questions. I have a student loan income-based repayment, from my studies in the UK. Are any other income sources rather than my salary considered?. For example, a rent I get from ...
MARIA's user avatar
  • 1
1 vote
1 answer
446 views

How to calculate how much more paying off a loan with extra principal payments saves vs extra payments?

So I recently wrote my loan provider on whether the extra online payments I was making were applied directly to principal and it turns out they were not, they were just treating it like extra pre-...
Nona's user avatar
  • 121
2 votes
5 answers
797 views

If loans are sold at discount to other lenders, why isn't the same offer given to the debtor for payoff?

Let’s say I have a loan at 3% for 10years for $100,000. After one year rates in the Loan market rise and are at 6% for the same type of loan. Why wouldn’t the payoff amount of the loan be discounted ...
DungenessCrab's user avatar
1 vote
2 answers
158 views

IRA withdraw penalties vs interest rates today

Here's a interesting point of view/question. With interest rates near 10% for loans these days - used car loans at 9.06% for someone with excellent credit - are we at a point where it makes more sense ...
user3260912's user avatar
0 votes
1 answer
154 views

Buying a duplex with another party, and 1 moves out: Does that party pay more?

I bought a duplex with another person. Two houses on the lot, and we both are living in the property. One decided to move out & rent their part. Would they still be obligated to pay their half, ...
Marr 's user avatar
1 vote
0 answers
79 views

Varying interest charges on car loan

I am making my $386 a month car loan payments each month on time. I just looked at the payment history and the amounts of principal and interest vary widely each month. For example: October: Balance ...
KTBach's user avatar
  • 11
0 votes
2 answers
374 views

Are there any amortized home mortgage loans where the monthly payments are distributed equally between interest and principal?

Are there any type of home mortgage loans where the amortized monthly payments are equally distributed towards the interest and principal? I understand this would violate the current formulas used to ...
Ali Vand's user avatar
15 votes
1 answer
6k views

Does a company have to have your login information to verify your identity?

A loan company said they needed my logins to my account and got a couple closed and also logged into my id.me and got it locked. Do they need my username and password? He said that he needed another ...
Addyson Cain's user avatar
-5 votes
3 answers
403 views

Why aren’t amortized loans outlawed and replaced with a more equitable model to the borrower?

I completely understand that banks are in the business of making money and capitalism prioritizes profit above all other values. However why aren’t laws enacted that would ban amortized loans and ...
Ali Vand's user avatar
0 votes
0 answers
41 views

Credit Investing - Best Metric To Compare Spread / Yield Per Unit of Risk

Do people investing in credit (leveraged loans / high yield) that want to compare different industries / different valued businesses ever look at spread per turn of LTV (or the inverse, 1/LTV = asset ...
aethiogo's user avatar
1 vote
1 answer
2k views

Are banks willing to lend money to one-man APP startups?

I am one person building a social-media-ish APP. I am 2 years along. Let's say that it's 90% finished. How do you get a bank to lend you money for this APP?
Bear Bile Farming is Torture's user avatar
7 votes
4 answers
3k views

How to compare loan interest rate to savings account interest rate?

I don't understand how to compare my loan's interest rate to my savings account interest rate. My savings account states: The Interest Rate on your account is 4.0249% with an Annual Percentage Yield ...
Donut's user avatar
  • 173
0 votes
1 answer
92 views

Minimizing tax liability in business purchase w/ personal loan from other partner

I'm purchasing an existing business with a business partner. They're in a better position than I am regarding liquid assets. I've got most of my assets in positions where I'd be paying high short term ...
user avatar
0 votes
0 answers
31 views

Determine loan interest rate from income statements and balance sheets

I'm trying to determine the loan interest rate from financial statements, e.g https://finance.yahoo.com/quote/VLVLY/balance-sheet?p=VLVLY Here's what I got Interesting expense 1,205,000 = 12.05B ...
daisy's user avatar
  • 579
2 votes
1 answer
60 views

Consequences of frequent share holder loan and repayment to and from my Ontario Corporation?

Let's say I have an Ontario Corporation in Canada. My corporate fiscal year is from July 1 to June 30. I also have a personal line of credit with my personal bank and I owe $50k to the bank. The ...
learningtech's user avatar
0 votes
1 answer
358 views

Creating an amortization schedule for a loan with variable interest that compounds 2x per year

Has anyone created an amortization schedule for a loan with a variable interest rate that also compounds 2x per year? The loan has a set payment amount (15k monthly), but because the interest is ...
Erin A's user avatar
  • 1
2 votes
1 answer
2k views

My girlfriend helped me buy a car - Who is responsible if she takes it back?

My original car was totaled, and I couldn't get a car on my own due to bad credit. The dealership approved me at a high rate with money down. When I get my trust fund, I can buy one. My girlfriend ...
Mike's user avatar
  • 21
4 votes
3 answers
1k views

How does a rollover work with Bonds?

I understand how a rollover works with personal loans. An easy example would be a car. Someone wants to buy a new car, but they still have an outstanding balance on their current vehicle. So the ...
troy beckett's user avatar
3 votes
1 answer
627 views

Can applying for a new loan affect my existing mortgage? (US)

I live in the US and I am a somewhat mature full-time graduate student. I have gone back to grad school after having spent some years working and I have children and a mortgage. My school has a policy ...
Time4Tea's user avatar
  • 695
0 votes
1 answer
128 views

Do student loans capitalize daily after the grace period?

As I understand it, for many student loans, when you take out the loan, there is a daily, fixed, simple interest that accrues. This accrues on the principal but does not capitalize. Therefore, if I am ...
Stan Shunpike's user avatar
1 vote
0 answers
66 views

Does a loan for purchasing land provide a tax benefit?

I want to take a loan for land. In the future we want to build house on it, but now we can only afford the land. Would this be a personal loan or home loan? If I take this land loan can I benefit in ...
Dakshank's user avatar
  • 111
6 votes
3 answers
4k views

How do loan payments made before the end of the month affect payment due for that month?

I would to understand how loan repayments work. Let's say I take out a loan for $100,000 at 5% for 5 years. I would have a monthly payment of $2,124.70. This payment is expected to be paid monthly. ...
Mr.Rlover's user avatar
  • 171
8 votes
7 answers
6k views

When is it worth taking out a loan for something I could pay in cash?

I'm trying to better understand the time-value of money and how to compare interest rates vs. investment returns. In general, if I can pay for something in cash or short-term credit (paid off monthly),...
cr0's user avatar
  • 287
18 votes
5 answers
8k views

I have to pay back my student loan. When is the best time to do it?

Today, I received the news that my "Payback phase" for my student loan has begun. I was afraid this day would come soon, but it came quicker than I anticipated. However, I got the news that ...
SpoiledMustard's user avatar
9 votes
2 answers
3k views

Are demand and time deposit accounts really loans _to_ the bank?

Borrowers pay interest to borrowees any time they take out a loan. The Government even pays interest when you "buy" it's notes and bonds. Banks, too, pay interest to deposit holders. Does ...
RonJohn's user avatar
  • 50.7k
2 votes
1 answer
353 views

Tidal loan insurance

I received notification of approval from Lending Club. He said it was structured as a "tidal loan" and an insurance fee would need to paid upfront to allow funding. Does this sound legit?? ...
Bob Stanley's user avatar
2 votes
0 answers
499 views

Can we hand over blank cheques to a bank when applying for any kinda loans?

I applied for a 4 lakh car loan with HDFC Bank, but before they will approve it, they require four blank cheques with my signature. Is it safe to give the bank those cheques?
Ankur Dhariwal's user avatar
0 votes
1 answer
144 views

Salary doubled on credit app - what could happen?

I recently applied for credit for a loan for a solar system. I submitted the form on the solar companies website. They sent it to some loan company who sent me their credit application doc to sign ...
Hannover Fist's user avatar
4 votes
3 answers
338 views

Musk bought Twitter with $13b loans - why is *Twitter* liable for this debt rather than Musk?

Elon Musk bought Twitter in late 2022 for $44 billion. My understanding is that $13b of the total price was financed by bank loans. So, why is Twitter itself on the hook for the loan repayments? If I ...
Paul Y's user avatar
  • 149
1 vote
1 answer
164 views

Is car loan the better option when one has already saved enough to cover the purchase

Let's say someone has saved $100 000. There is no specific purpose for this saving Now there is a car that cost $62 000 Financing the car entirely via a bank loan would cost around 50% of the salary ...
stevy21's user avatar
  • 11
2 votes
4 answers
369 views

Which is cheaper: 50% down with 50% loan or 100% loan with 50% immediately paid after signing

I find myself in a position of needing to finance a large purchase. Fortunately, I saved a significant amount in expectation of this expense so I have about 50% of the total cost on hand and ...
MysteryMoose's user avatar
0 votes
1 answer
115 views

Would a personal loan likely be denied if the intended use was real estate?

I have an excellent credit score and long history with my bank. I would like to buy an apartment outside of my country (the US). Since I can't take out a mortgage with my US bank for this purpose, I'm ...
Ken - Enough about Monica's user avatar
10 votes
12 answers
6k views

Do I use savings to buy a car?

My current car worth £700 needs £1500 of repairs. It’s a bit of a money pit at the moment with big repairs needed a lot. I want to buy a new car. I’m looking at used cars and I found a 2015 Corsa that ...
Jess's user avatar
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