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
97 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
354 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
191 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
785 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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0answers
56 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 ...
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0answers
145 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
41 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
42 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
105 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
55 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
65 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
658 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
194 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
74 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
313 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
1k 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
87 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
103 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
59 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
126 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
317 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
247 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
229 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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2answers
271 views

Loan of $70k from a friend [closed]

I want to loan $70 k from a friend of mine for a investment.
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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
231 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
775 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
105 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 ...
-1
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2answers
887 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
71 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
178 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 ...
-1
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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 ...
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2answers
123 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, ...
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votes
1answer
700 views

Does a one time additional payment reduce the interest paid on a Prosper or Lending club personal loan

I have a loan with Lending Club with a certain interest rate. So every month I pay the principal as well as about $200 in interest. Assuming the loan balance left is $20000 and the interest rate is 7%,...
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1answer
59 views

Legal Financing

What is the best way to go about financing a legal case? The Wikipedia article "Legal Financing" was somewhat helpful, but it did not mention how and with whom I would apply for a loan to finance a ...
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1answer
344 views

Season Loan Amortization with Fixed Payments for low season

From Seasonal Loan Amortization I've learned how to calculate Loan amortization with interest Payments and No payments. I'm wondering how do you calculate it when they only want the borrower to pay a ...
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1answer
269 views

How to read interest/principal payoff table

I have this data (modified dates) in my transaction history: (APR=.99%) I have made 4 payments till date. 4th Paid on: 06/25/2001 $1000.00 Principal $1000.00 //Paid $...
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1answer
49 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 ...
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1answer
68 views

how to find flat rate of interest per annum and month if we have given reducing rate of interest or loan amount and tenure?

For example: For loan amount 500000 for 5 years at the rate of 12% (reducing interest rate), EMI is 11,122.22 per month Here 12% reducing is equivalent to flat 6.69% per annum or flat 0.55% per month. ...
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1answer
410 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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2answers
115 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
75 views

Better approach to close loans?

If I have 3 loans is it better to pay them monthly and close after 3 years or close one at a time in one one year?
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1answer
115 views

Is it smart to take OSAP student loan right now?

I am going to grad school in Canada this September and have a chance to borrow ~$15000 at a rate of prime+1% (provincial loan) and prime+2.5% (federal). I would guess the 15000 is split 50-50 between ...
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1answer
103 views

How does one calculate the following loan problems? [closed]

1.) Calculate the total interest to be paid on the loan during it's lifetime. Compute for BOTH compound interest and simple interest models. Start Principal = $21,315.00, Date of Disbursement = 9/...
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1answer
88 views

Where should i sign?

I'm in the process of buying a vehicle. My uncle is helping me out by cosigning for me. On the contract there is a buyer and a co-buyer line that requires signatures. Where do i sign.