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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2answers
22 views

Reasons to invest in 401k vs pay off loan in 1 year?

I have ~$70k across 401k and Roth IRA. I have federal student loan at $17k with 3.8%. Thus, my NW is $53k. If I choose to invest $19k into my 401k and assume the average rate of return of 7%, my 401k ...
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1answer
68 views

How to officially record a loan against my house deed (so the lender is guaranteed a repayment from the collateral)?

I am going to receive a loan from my friend so that I can pay off my mortgage and some other debts. I want to officially record the loan so that my friend is legally protected and guaranteed to be ...
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1answer
37 views

About P2P platform Twino - Manual or Auto invest portfolio? [closed]

Recently I start invest on twino platform. Gradually I increase the amount invested and I would like to know if it´s wise to invest in short period loans like 1 - 12 months. Also if the manual invest ...
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2answers
163 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 ...
2
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3answers
310 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 ...
10
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1answer
361 views

Demolishing a home and rebuilding

My fiance owns a nice piece of property with an old run down home. The value of land and house right now is about 250,000. There is no mortgage on this property. How do I borrow money to demolish ...
4
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2answers
180 views

Does a 401(k) loan count as debt when calculating Debt-to-Income Ratio?

Does a regular 401(k) loan count as debt when calculating one's Debt-to-income ratio when applying for a mortgage? The loan is within the organization that manages the 401(k), and it does not show in ...
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1answer
169 views

Can a family member not on the mortgage take a separate loan to help with the down payment

Say you are getting a house and get preapproved for a certain amount. This amount plus your downpayment is just shy of the required amount. If say, your father offers to take a loan for 10-30,000$, ...
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3answers
106 views

Hypothetical Question About Mortgage and Yield [closed]

Making These Assumptions: I have $1M, I want to buy a house which costs $1.5M. I want to have a mortgage of $500K. The interest rate on my mortgage is 2.5% annually. Assuming I rent the house and ...
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7answers
374 views

Advice on loan to friend

I am writing up a legal document (USA, Michigan) for loaning 7k to a friend with 10% APR with a term length of 5 years. (known him 5 years, he has paid back many smaller loans before). We'll both ...
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2answers
103 views

Is there a more collateralizable home?

Consider a situation where a loan officer examines the degree of collateralizability of a real estate. For example, one could compare: Sturdiness: wood v. brick. Flood/Tornado Plain: more vulnerable ...
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1answer
103 views

Understanding pledge, mortgage, and collateral in home buying

I am trying to better understand the terms pledge and collateral, in home buying. My understanding is that a Pledge is usually a pawn or piece of property used to secure "financing". When I try to ...
4
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2answers
316 views

Mortgage as present value of resale worth

I would like to ask someone who is knowledgeable in home loan and mortgage financing. Consider a home with an appraisal value of $ 400k. Let the down payment on this mortgage be $80k (i.e. 20% of $...
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2answers
176 views

Which debt(s) to minimize first to improve credit most quickly?

Current score is ~650. Looking to improve my credit as effectively as possible, as I'm looking into houses after getting married next summer. I'm coming off of a tougher employment patch so very much ...
2
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3answers
265 views

Can you build credit history without getting a credit cards or taking on debt?

As far as I know I have no credit history as I have never had a loan or credit card. I buy things using a debit card tied to my credit union bank account and prefer not to have a credit card at all. I ...
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1answer
27 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 ...
2
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3answers
240 views

Mortgage vs cash for a first-time home buyer

I need advice: I'm in a condo contract, priced at $175K. I have been looking around for mortgage, and got a quote for a 3.125% 15-year mortgage with 20% down payment (so loan would be 140K). I was ...
2
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4answers
173 views

Mortgage broker vs bank mortgage for home buying

I'm a new home buyer, buying a condo. Now that we have already signed a contract, a question raised for me. Is it recommended to get a mortgage directly from a bank or through a mortgage broker? ...
2
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0answers
171 views

How to obtain “Negative Equity Insurance” aka “Home Equity Protection” aka “Equity Protection Policy” in the UK?

I'm searching for an insurance policy to protect against negative equity on a residential real-estate. The risk I'm trying to protect against is that house prices will fall. I'm looking for ...
49
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12answers
17k views

My mother co-signed for my car. Can she take it away from me if I am the one making car payments?

My credit is in the low 500s and I was unable to get a car loan. My mom cosigned for me and I've now had a beautiful car for three months. I've been making on-time payments, the registration is in my ...
0
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1answer
80 views

Help with NPV question

Consider two options to buy equipment for your emergency department. You are given the choice to pay $15,000 in cash now, or pay zero upfront, but make four payments of $5,000. If the cost of ...
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2answers
76 views

Prolonged low base rate and personal savings

The Fed recently has prolonged its low base rate and is even considering lowering it further. I am an EU resident, and our base rate is even lower - it has been 0% for several months and it seems that ...
18
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2answers
2k 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 ...
2
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1answer
61 views

How to give collateral loan for car - India?

I am an Individual and my neighbour wants a loan on his car, what are the legal procedure to give such a loan?
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1answer
31 views

Best shot for small business loan given limited history, credit, etc

Suppose that a person is in dire need of a small business loan (complicated surrounding circumstances involving politics eliminate other options). They have the following assets: 6 year old LLC with ...
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0answers
68 views

Why would my pre-approval auto loan be denied, but chance of actual loan approved?

I have an income of roughly ~70k, a little over $50k after taxes. My only debts are housing expenses (rent and utilities) which total around $800 out of >$4000 a month net income. Recently, I was ...
4
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4answers
2k views

As a fresh graduate, should I get my first credit card? [duplicate]

Recently, I sat down with couple of my friends that are also a recent graduates. We talked about credit cards and it caught my attention. They told me that we should get our first credit card as ...
1
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1answer
150 views

Taking a loan with a low interest and putting it into a Savings deposit with High interest [duplicate]

Can I make money from taking out a loan from a country with a low interest rate (such as Switzerland, that has an interest rate for loans from 4.9%) and put it into a fixed savings deposit account in ...
2
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0answers
93 views

Borrowing or raising funds against ISOs

I have some ISOs that are exercised (early exercised/bought) from two different companies I worked at. Their current values are around $15k each. These amounts aren't enough to transact with ...
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2answers
163 views

How to structure a loan on inheritance?

My wife's father died last year and left a decent sized inheritance to my wife and her two brothers. The estate is complex and includes multiple IRAs and two trust funds, so settling the estate has ...
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3answers
145 views

Using 401k loan to payoff higher interest loan, how much am I saving?

Let's say I take out a $10k 401k loan at 6% interest. I then use this $10k to pay off a $10k debt at 10% interest. The question is this. What is my savings in doing this? The interest I pay on the ...
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0answers
101 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
226 views

Can you use a small business loan as the down payment on a house?

My wife owns a small business and is looking to purchase a barn or small warehouse to store some of her rental items. We are also looking to purchase a new home for our family. Can she acquire a loan ...
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2answers
51 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. ...
0
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1answer
69 views

Does installment loan amount affect credit score?

I am looking to finance a new car purchase. The total cost of the car comes out to $18k, and I am able to put up to $10k down. Assuming that my goal is to maximize my credit score in the long run, ...
3
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1answer
142 views

Loan Denial and Reapplying

I recently applied for a personal loan. I made it to the final stage of approval after uploading my paystubs, payoff notices, bank statements, etc. I ultimately received a decline notice stating that '...
0
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1answer
113 views

Partnering on purchasing a property

I want to partner with my 70-year old mother in law to buy a property. She is going to put $200K down and I am going to get $400K loan (since she won't qualify for loan, and I have a 780 credit score ...
44
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14answers
14k views

How can I support myself financially as a 17 year old with a loan?

I'm a 17 year old Ohio high school student who makes ~$160 a month working minimum wage. I have a $3500 loan (4 year duration) to pay off for a car with ~$2880 left. Monthly payments are ~$80 for ...
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1answer
182 views

I need a tiny amount of money right now, but I can't find lending options. Why don't lending services cater to those who seek very tiny loans? [closed]

I'm looking to drop $20 in the stocks now, but I don't have this money currently available. Is there any kind of micro/nano-loaning service where one can borrow a very small amount of funds and pay ...
-1
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1answer
46 views

Unsecured sources of short term loans (variable and fixed rates)

Someone has obtained a short-term loan from the Bank. The loan matures in 180 days and is in the amount of $45,000. He hopes to have sufficient backing from other investors by the end of the next 6 ...
2
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0answers
25 views

Understanding the effect of parent PLUS loan on the parent's credit score

I am helping a family navigate paying for college and I have a question that I cannot seem to answer by searching this site or any of the federal sites. Suppose the mom takes out a Parent PLUS loan ...
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2answers
114 views

What is the best option for a loan to do a construction project at home without refinancing

I'm looking into advice and options to get a loan to pay for a construction project at home in the United States. Here is the situation: My family and I are living at one residential family home, ...
1
vote
1answer
146 views

Formula for previous months interest payment and balance - Reverse Amortization

I am trying to resolve an issue I am having where a system calculated incorrect additional payments on a loan for a couple of months, resulting in the new current balance being incorrect. I want to ...
2
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3answers
262 views

Post judgement loan

My grandfather has been providing post judgement loans to people for 9 months through his friend who has connections to a lay firm. So once someone received a judgment saying that “x” company owes ...
3
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2answers
340 views

Securing a loan with a loan, does this even make sense?

My friend wants to buy a house; however he does not have the capital to put twenty percent down because he loaned out his capital as a secured business loan last? year. He thinks all other business ...
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0answers
63 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 ...
5
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1answer
693 views

Should I take advantage of “interest-free” credit when buying something? [duplicate]

If I buy something like a smartphone or a new PC, when you have these choice: Pay all the cost at the moment. Pay it in 6/12/18 months (with loan but without any interest rate and any extra cost). ...
6
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1answer
158 views

Student debt in arrears from living overseas- what to do?

I have been living overseas for 3 years and did not inform the student finance company (stupid, and totally my fault!) and they have recently sent me a letter asking to confirm my employment status- a ...
0
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4answers
1k views

Reasons for not taking loans with negative interest rate

At the moment, negative interest rates sounds totally obscure. Basically, the lender has to pay the borrower for lending money from him?!? If this is the case, why shouldn't I just go out to take ...
1
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2answers
63 views

effective rate loan installment

Why is it that the effective rate is based on compounding and it is also paid only on the remaining loan balance in compounding interest we pay interest on interest? Can someone explain in to me? what ...