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
87 views

How to get Loan for more then 1 CashFlow Apartament?

I see that experienced people buy MANY flats using loan and then provide them for rent and that rental payments cover loan payments. But when I asked the bank to do it, the bank is glad to provide ...
5
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2answers
241 views

Need help on understanding how math is done on this example

I am not sure how the math is exactly done for the interest to come out like that. Also, what is the capitalized interest? EDIT: What is an outstanding principal balance?
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1answer
106 views

Loan calculation with percentage [closed]

I want to know monthly payment with percentage. Let's say I took loan of $200 and I have to pay monthly for 5 months and amount pay back is $260. Over here $60 is interest. I could make out that I ...
2
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1answer
1k views

Is there a difference between a 360/360 day count convention and a 30/360?

Are these just different names for the same thing? Lending Management Software company told me their software does not do 30/360, but could do 360/360 which would be the closest match. I am thinking ...
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2answers
161 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 ...
3
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6answers
544 views

In what order should I decrease my loan debt?

I currently have federal student loans, and a personal loan I took out for college. Below are my percentages for each. I am wondering which loans I should start paying off first to ultimately not ...
4
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1answer
142 views

Borrow from American 401k from Canada

If I have a 401k with (for the sake of argument) $100,000 in the US, and I want to borrow the maximum ($50,000) for a mortgage on a house in Canada, is this possible? If so, what are some of the ...
6
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1answer
914 views

Shopping around for loans without detrimentally affecting credit rating/chance of getting said loan?

I've found myself stuck in a quandary. I put a deposit down on a car and I'm trying to obtain a personal loan based on this. The problem is that I'm finding that despite passing all initial checks ...
2
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1answer
100 views

How long should someone wait to apply for a secured credit card after having been deliquent on a loan payment?

Someone failed to make payments on a college loan for an extensive period (8-10 months). Their credit score has, as a result, dropped to 550-575. They have since paid off their overdue balance and ...
8
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2answers
426 views

How should I inject working capital into my company?

Me and two partners started a company earlier this year. Each of us owns 33.33% of the shares. Right now we are generating enough income to cover our monthly expenses, but we have already signed new ...
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1answer
916 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 ...
0
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1answer
148 views

In what circumstance would a company want to establish an SPE to engage in following investment?

I was reading a book explaining Special Purpose Entities (SPEs) and an example is used in the book: a firm could sell loans it has made to customers to an SPE that issues bonds to purchase the ...
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1answer
404 views

Is it considered mortgage fraud if you work for your friend who can assign you higher income?

I posted this on another forum and want to get input here as well. Let's say there's a boyfriend and a girlfriend who have kids together. Boyfriend is self-employed but doesn't have 2 years of ...
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1answer
306 views

How to buy a flat with a loan from NRI friend

I am intending to buy a flat worth 60 laks rupees in India, I am an Indian Citizen. I have 35 laks rupees in my bank (sale proceeds of a flat) and I want to fund the remaining 25 laks as; 15 laks ...
0
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1answer
71 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
2k 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
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1answer
172 views

If I'm paying extra, is a lower payment better or a shorter term?

If I'm borrowing say, $5,000 and plan to make $200 payments each month, which of these loans would end up being the better option? I believe that the interest on either will accrue daily rather than ...
29
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9answers
10k views

Should I pay cash or prefer a 0% interest loan for home furnishings?

I live in France. I bought an apartment with a mortgage a month ago. I've been buying plenty of stuff for this apartment like furniture, decoration, oven, etc. And I still need to buy other stuff. I'...
0
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2answers
131 views

Loan default and its effect on the outcome of visa application

In 1997, I took a 5000 GBP loan and was not able to repay. In 1998, I left the UK. Will this loan be erased from my identity? Will I be able to get a UK visa again?
2
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2answers
115 views

Buying an interest rate cap of 6,5% for 1500€ seems really cheap?

I have a loan on my house, about 250.000€, to be paid within 30 years. I've an interest rate of EURIBOR + 1,25%. Now, to get additional insurance, I'm buying an interest rate cap at 6,5% for about ...
4
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2answers
3k views

Is this “approved” online loan a scam? I was asked for my user name and password

I'm pretty sure what the answer is, but I don't want my desperation to cloud my judgment. I was approved for a loan after giving my bank account and routing info. They requested to verify the account ...
22
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13answers
24k views

Prepaying a loan: Shouldn't the interest be recalculated like a shorter loan?

Maybe I'm incorrect in my thinking, but I have a question about prepaying a loan. When you take out a mortgage on a home or a car loan, it is my understanding that for the first years of payment you ...
1
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2answers
348 views

Compound Interest & Mortgages

Mortgages are compounded 2 times a year in Canada and 12 times a year in the USA. However, I read that mortgages are simple interest and not compound interest because you pay the interest for each ...
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1answer
2k views

Seasonal Loan Amortization

Hi I can compute a Basic Loan Amortization Schedule, But now I'm trying to Calculate a Seasonal Loan Amortization Schedule . So for example A loan starts at January And Will go on for 3 years, with ...
17
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1answer
5k views

How to handle a parent going through divorce asking to borrow money

Asking for a friend. The parents are currently going through a divorce and one parent is struggling a bit financially to pay for lawyer fees for example and needs to borrow money. The problem is that ...
42
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6answers
10k views

Can a car company refuse to give me a copy of my contract or balance details?

I have an auto loan with a car company that after looking at all possible amortizations, doesn't match what my payment should be. I'm talking with 40% interest rates, adjustable interest rates, ...
3
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2answers
249 views

Is it a good idea to get an principal and interest loan for an investment property?

At the moment, we have an investment property where we're paying 4.5% interest on an interest only loan. I'm considering moving to another bank which offer 3.88% fixed for 2 years but it can't be ...
5
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1answer
327 views

Can a jobless person get a home equity loan if he has other sources of income such as stock dividends?

Suppose a jobless person has a fully paid property. He wants to take out a home equity loan. Will the bank reject his loan application due to his lack of salary income as a jobless person? This person ...
15
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2answers
2k views

Mortgages: What is the terminology for how much I own and how much I still owe?

I'm looking for the terminology related to my home mortgage. The word or phrase for how much of my house I own. The word or phrase for how much I still owe. For example, suppose I bought a $500K ...
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0answers
103 views

Getting my name off car loan/title [duplicate]

My fiance left me and married her ex husband 2 months later. We had two financed vehicles. Both in our name. One got repossesed. She took the other one with her. My questions are: How can I get my ...
3
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2answers
157 views

How to compare loans of same principal, same interest but with different tenors

I have a scenario where there are 2 loans that can be provided (assuming I am providing the loan). The principal amount is the same, 30,000 in case of both the loans. The interest is also same at 17%. ...
3
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2answers
1k views

Calculating amortisation payment amount, where first payment date differs from loan start date

I'm trying to reproduce the schedule, but I cant seem to get the same Payment and Interest for each month. The tricky part here is that the Loan start date is 9 Feb 2017 but the first payment is only ...
0
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3answers
259 views

Why do banks offer credit cards with less than 7% APR [closed]

On average stock markets make about 7% per year adjusted for inflation. So given the choice of lending a stranger money who will give me <7% APR or putting it in the stock market for a few years I ...
3
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1answer
165 views

Is it possible to get a big personal loan for foreign investment?

I'm from the UK, working as a contractor for a US company, earning $30k+ annually, and I want to buy a house costing around $100k in a non-EU country. I need an investment visa to do this. A ...
14
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1answer
13k views

4 months into a 30 month car loan, need new engine, can't sell any body parts

I just recovered from a major health ordeal, and am disabled. I'm just getting back to work, but being that I've been out so long, so finances are very, very thin. The problem is that I recently (4 ...
25
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7answers
17k views

Should I pay for a computer up-front or on finance?

This reads a bit like a home-work question, but this is actually my situation. The job I've taken is a BYOD (bring your own device), workplace and I prefer to use my own equipment. I've just started ...
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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?
1
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2answers
151 views

What's an easy way to create a floating amortization loan? [duplicate]

When dealing with a mortgage company, paying off a loan is quite simple. Now everything is online and most of the times you can pay more than the minimum payment each time. Each month the interest ...
6
votes
2answers
2k views

Is there any loan forgiveness or help for a large Federal parent student loan?

If a parent has a federal student loan for her child's education of over 100 thousand dollars, and she is having trouble paying off, is there any sort of forgiveness, or help?
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2answers
667 views

Calculate APR from balloon loan

I need formula to calculate nominal APR from balloon loan with contract fee. The initial data and payment schedule is: Loan sum: 10 000€ Interest rate per year: 15% Loan period: 2 years Payments ...
4
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2answers
468 views

Should I try to optimize my credit score before applying for a loan?

I am considering shopping for a house somewhere this year, which of course would involve shopping for a mortgage. And mortgage rates depend on the credit score. My credit history is clean from trouble,...
5
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1answer
215 views

Selling newer car and buying used car to reduce monthly payment

I purchased a 2015 Ford Focus in August of 2016 with a loan for $15,700 for a term of 71 months. I've been paying $257 a month and have the loan down to $12,370. I decided to go back to school to do a ...
3
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4answers
773 views

Looking to buy a property that's 12-14x my income. How can it be done?

I currently have insignificant income due to the fluctuations of my line of work -- entrepreneurship. I do not have any steady income and can't guarantee minimums always -- but I have done some ...
1
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1answer
69 views

Will I be able to get an FHA home loan if I opt for a voluntary repossession on my current auto loan?

What i'm asking is will my credit go down that much and if I decide to voluntary repo? I'm currently at 650. If I can't get a FHA loan what are my options for buying a home with a repo on my credit ...
1
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1answer
281 views

Does PayPal working capital offer a good value?

I'd like to know how to determine if PayPal working capital is a good value. Their calculator can be found here: https://www.paypal.com/us/workingcapital/. The way it works is the larger the gap ...
1
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1answer
199 views

How to get a mortgage with low income but good assets

I have low income about $50,000 a year since divorce. But I am about to sell my house for $2 million, and possible gain about $1M profit. I can put a down payment of $300,000 to down size to a house ...
12
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3answers
6k views

Can I pay my student loan with a credit card?

As far as I can tell, it's not possible to pay off student loan debt with a credit card. I'm currently making payments through Great Lakes borrowing services. There is clearly only an option to add a ...
3
votes
2answers
273 views

Loan up to 22k, what to do?

I am a student who recently started working and have a salary of roughly 1.2k euros per month, most of which goes to savings because I live with my parents. Due to my salary, my bank offers me a loan ...
1
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1answer
69 views

Whether credit report includes length of employment or pay check details?

Whether credit report includes length of employment (or) pay check details to the Financial Institute which is running credit check on an Individual? In order to provide Loan, Does the period of ...
2
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2answers
631 views

My employer doesn't provide an electronic pay stub and I need one to get a car loan

I have gotten a pay stub from every job I've held previously, but my new job is a small business and they do not give electronic pay stubs. I am given a handwritten statement showing what is withheld, ...