Questions tagged [repayment]
For all situations involving paying money back to a borrowed source, such as a loan.
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Can employee share ownership plan (ESOP) contributions to an RRSP account qualify as HBP repayment?
Can employee share ownership plan (ESOP) contributions to an RRSP account be designated as repayment towards a previous withdrawal made under the Home Buyers' Plan?
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Formula for Calculating Periodic Fixed Payments with Multiple Rate Changes
I'm trying to figure out how to extend the formula provided by Chris Degnen in this previous question What is the formula for the monthly payment on an adjustable rate mortgage? to add in a third ...
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Finding monthly payment for ordinary simple annuity with varying interest rates? [closed]
I've been working at this question for some time now and I'm quite stuck. Some help would be greatly appreciated. I can figure out recurring payments by themselves, but I'm drawing a blank when it ...
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Should I pay down my student debt early?
I just graduated university and started my first job. I have £50,000 in student loan debt at 6.1% interest.
My monthly payment on this debt is £10 (direct from my paycheck). I can afford to pay £...
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Does early repayment affect the credit score?
If I take the personal loan, start making payments regularly and then decide to completely repay it - what will happen to my credit rating?
Would it improve, decrease or not be affected?
user63058
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Student loan repayment question (UK)
I have significant student loan debt.
I am on plan 2 repayment and just received my first payslip.
I earn £22k and so by their rules I need to pay back 9% of my annual salary over £21k that being in ...
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How much is saved by changing the date of monthly mortage payments?
My mortgage is paid on the 25th of every month by a direct debit.
I could change this payment to the 5th (as the money is waiting in my account).
I assume (perhaps mistakenly) that I then wouldn't ...
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personal heloc to pay off rental
I have 4 properties with reasonable cash flow. These are owned by my LLC.
At current payment schedules, 1 rental pays off the property in 4 years, the next in 6 Years, the next in 9 years, the last ...
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Need help on understanding the Interest Notice I got from FedLoan
I just got a interest notice which says this is not a bill. But I have hard time understanding what this notice is for, if it's not a bill then why does it asking me to pay? It says I have total ...
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Loan Prepayment
I will be applying for a car loan shortly, and trying to evaluate various lender schemes. I was not really sure when its mentioned as
No Pre-Payment Penalty or Foreclosure Charges
Let say I have ...
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How does Income Based Repayment work if I am self-employed?
From my understanding, income based repayment for federal student loans is based off of my yearly income. How does it work if I am self-employed and don't have a steady and predictable paycheck every ...
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Number of Repayments [duplicate]
Say for example I take a 30 year mortgage and I make repayments fortnightly. How many repayments will I be making, will it be exactly 780? If so, how does one account for the extra days?
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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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What are the typical repayment plans for Credit Cards in the United States?
I'm not from the USA but I have a question since I'm going to be there soon.
Where I'm from you can split credit card repayment to spread them over few months.
For example if I bought something worth ...
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Home loan for Granddaughter
Can I use collateral of my $325000 home which I own in Australia to help my granddaughter buy a house in her name.
Can the repayment be structured as Interest Only for initial few years. She is ...
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Are there any regulations regards end of loan payment procedures?
When I was a student, one of my student loans was a Federal Perkins Loan. I was done paying the loan fully about 5 months ago. Since then I called couple times to the university asking about it, and ...
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Can extra mortgage payments be made to lower the monthly payment amount?
Is it possible to set up a 30 year mortgage where extra payments lower the monthly mortgage? Typically, extra payments go to shorten the length of the loan. All real math aside, let's say I put an ...
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Understanding Credit Card Repayments and Usage
I tried reading related questions, but I can't seem to digest how credit cards really works.
Here is the scenario:
Credit limit: 15,000.
Statement:
Period: (24-Nov-2016 to 23-Dec-2016): 9000 full ...
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Term loan overpayment options: applied to principal, or...?
Twice in my life now (as of yesterday) I've found myself in a very confusion situation after having made higher-than-scheduled payments on a term loan for an extended period of time.
The first time, ...
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Student Loans: Income-based repayment & income tax bomb
Situation: I have a pretty sizable student loan burden ($150,000 with 6% interest), where I can't afford the regular payments (about $2000/month) with my current salary ($60,000) at job I'm starting ...
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Mortgage: make early repayments from the beggining, or invest elsewhere and repay later?
I have a 12 years mortgage. If I have extra money, should I use it to repay early (thus saving time and interests), or should I use that money to make investments, and use the profit from those ...
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Paying off loan early: Apply overpayment toward balance vs advance payment due date?
I want to pay off half of my high interest student loan with a lump sum.
I have 2 options when applying the payment: to apply the amount to my balance or to advance the due date (i.e. to apply ...
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I have paid $7000 extra of my mortgage in 6 months. Should I transfer this to my $11,000 car loan or is it better of the home loan?
My car loan is 6.49% but it costs $12 a month for every month you pay it off early. It is a 60 month loan, I have been on it for 6 months and have paid off $2500 (From $14 000 to $11-500.
My ...
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Student loan tips for repayment, consolidation for a pharmacy graduate
I am including the student loan information for a friend below. Also including a link to the excel sheet here There would be about 3,000 left every month after various expenses. Friend is a pharmacist,...
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How can a skipped a early repayment on a specific month can affect the cost of my mortgage?
I struggle to understand how mortgage and interest rates works.
(I made up the figures to keep it simple)
Some facts:
My balance is £206.000
Each month I repay £950 (capital + interest)
I do a ...
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Will credit card payment from abroad be suspicious as taxable income?
If I have someone (a family member) pay a portion of my U.S. credit card debt[Repayments] from a bank abroad. The money is directly paid to the credit card account and not to my regular bank account.
...
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Tackling an obscene amount of student loans
So, in my journey to get to where I am today, I spent a good 7 years getting a Master's degree. This, of course, led me down the path of student loans.
Currently I sit at just over 100k in student ...
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Repayment of loan I made to my own LLC
I loaned $60,000 to my own single owner LLC over the past 6 moths to pay for start up, salaries, rent and business expenses to get it started.
It is now moving towards profit and can afford to start ...
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Calculate money owed on shared loan
I am in an interesting situation that I am looking for help with.
I went to college a number of years ago, as did my brother. My mother had two student loans (one for each of us) and a few years ago,...
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Fixing Credit With Several Small Debts
I am a recent graduate from the U.S. with a checkered credit history. I have a few items in collection now totaling about $750 or so. Previously, my attitude would have been to let these slide until ...
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Ask rebate in loan repayment
The interest rate made my loan to a very large amount from the one which i borrowed since I could not pay it for some time(I missed some EMI).
Now I have money to pay it full, Can I ask bank to allow ...
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What counts as 'qualified government orders'?
In 2008, we received a first time home buyer credit. In 2010, I became a government employee. In 2015, I transferred to a new position in a new city which made me part of the intelligence community. ...
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Mortgage refinancing
Lets say I buy a house worth £350k with a mortgage of 30 years.
Down-payment of £50k and monthly £1250 with 3% interest.
After 5 years I realized I can afford £5k monthly, can I pay off some debt to ...
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What is the formula for the monthly payment on an adjustable rate mortgage?
Can people tell me how monthly payments are calculated when a mortgage has an initial rate?
What is the formula?
I have seen online calculators but not formulae.
My guess is:
We assume that the ...
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At what point should I begin paying off student loans?
I am attending a rather pricey American university, and most of my money for tuition comes from grants and loans. Grants are great, but obviously I have to pay off loans at some point.
I have some ...
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Mortgage payments
Background
I was watching a video about mortgage-backed securities on Khan Academy (ref. this video, skip to 2:32), and something struck me as odd about the way he presented the mortgage model. He ...
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Does paying more frequently on a simple interest auto loan save me money?
My Auto loan is calculated by "simple interest". Would paying weekly save me money? If so, wouldn't paying daily save me even more money?
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How to recalculate an amortization table after making a large payment?
I have an auto loan I wish to apply a very large amount to. I have a amortization table that shows me details for each payment I make. Here's where it gets complicated...
My lender does not allow ...
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Do home loans ever have a limit on what can be paid toward the principal?
Do home loans ever have a limit on what can be paid toward the principal during each month (or billing cycle)?
In other words: Do some lenders prohibit taking out a home loan and paying it completely ...
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Student Loan Repayment
I have 3 private student loans.
Outstanding Principal Balance taken 08/2011 $15,000.00
Outstanding Accrued Interest as of 08/21/15 $6,678.26
Interest Rate 11.75%
Outstanding Principal Balance ...
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Will paying off my mortage quickly harm my chances in the future?
I'm currently nearing the end of the first year of my new 25-year mortgage, which is a five-year fixed plan at 3.39%. As it stands, I can make overpayments of up to 10% of the original loan every year ...
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How do investments on projects work
I am a newbie with loans and investments. I really want to know the difference between loans and investments on a project. I have a solar project for which I am looking for investments. I heard that ...
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Can anyone help me understand my loan payment?
My loan was $40500 for five years with 9% interest per year. I do not understand the total I would have to pay. I have been paying 700 per month since 2006 and it feels like I've been paying forever. ...
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How does one compare repayment of a loan based on a fixed payment of some dollar per $1000 borrowed?
I'm having some difficulty understanding the payment fees of a possible home equity line of credit (HELOC). The HELOC is for $270k, with a stated repayment period of 15 years at 2.75% APR.
The credit ...
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Do I repay Social Security Disability Insurance (SSDI) if I suddenly have income and assets
I have four chronic disabling diseases and have received Social Security Disability Insurance (SSDI) for 10 years.
If I suddenly own a home and income property, must I repay social security? If so, ...
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Is the repayment of monies loaned to my company considered income?
I have been working diligently for years to get my business off the ground. I have been funding its monthly operation via my personal funds, each month lending the company (an LLC) just enough to pay ...
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Why am I not entitled to keep the money given to me by the Government in error? [closed]
unemployment insurance made a mistake by giving me money that I wasn't entitled in the first place and I didn't know till recently they with held my state tax, I went to department of labor in my city,...
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Are 401K loan repayments considered tax deductible?
I took out a 401k loan 1.5 years back for a home down payment. The loan had a 36 month term, and I was making payments thro' payroll deductions from my employer. I recently quit that job, and I am ...
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To pay off a student loan, should I save up a lump sum payoff payment or pay extra each month?
I am a new college graduate with a student loan of $17k at 6.8% interest. The monthly minimum payment due is $193. I have been paying the minimum amount, and then taking that same amount and placing ...
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When should I reduce my student loan payments in order to save up for a down payment on another loan?
I'm currently paying off a little over $13,500 of student loans, at a rate of $300 a month and accrues approximately $60 of interest each month. My bi-weekly take-home salary is approximately $1,350 (...
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