All Questions
Tagged with loans united-states
290
questions
35
votes
4
answers
17k
views
Why is the car dealer insisting on a loan instead of cash?
I saw a question that said "He (dealer) knocked down the price quite a bit" but my experience is different. The dealership says that they have a US$1500 incentive if I take a loan from their financing ...
- 3,492
1
vote
2
answers
333
views
Auto loan technicalities in the US
I know what loans are (you borrow money and pay it back plus interest over a period of time), but I have a few questions about the specifics:
When you are approved for an auto loan and you proceed to ...
- 506
4
votes
3
answers
2k
views
Does a 401(k) loan count as debt when calculating Debt-to-Income Ratio?
Does a regular 401(k) loan count as debt when calculating one's Debt-to-income ratio when applying for a mortgage?
The loan is within the organization that manages the 401(k), and it does not show in ...
- 742
0
votes
1
answer
221
views
Can a family member not on the mortgage take a separate loan to help with the down payment
Say you are getting a house and get preapproved for a certain amount. This amount plus your downpayment is just shy of the required amount. If say, your father offers to take a loan for 10-30,000$, ...
- 195
1
vote
6
answers
459
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 ...
1
vote
2
answers
274
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 ...
- 113
1
vote
0
answers
83
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 ...
- 19
1
vote
2
answers
390
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 ...
- 359
0
votes
1
answer
116
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, ...
- 103
3
votes
2
answers
303
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 '...
- 181
43
votes
14
answers
15k
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 ...
- 439
3
votes
2
answers
156
views
Loan payment strategy: Private vs federal?
I am a young professional trying to determine the most efficient/cost effective method for paying off my student loans and would greatly appreciate any advice. Currently, I have about $170,000 in ...
1
vote
0
answers
107
views
Personal loan to start the LLC now being paid back to investor / member of the LLC
I lent $85k to my own two partner LLC to purchase a property. I hold this as an interest bearing note against the property. I have been receiving a 1099-INT at the end of each year. Now, since the ...
- 11
8
votes
2
answers
2k
views
Is the child responsible for the Parent PLUS Loan when the parent has passed away?
Is the child responsible for the Direct Parent PLUS Loan when the loan is under the parent that has passed away?
Specifically by the U.S. DEPARTMENT OF EDUCATION.
- 1,507
2
votes
0
answers
184
views
When I'm applying for a loan, how do I report my annual income if my income changes from year to year?
When I'm applying for a loan or a credit card, the application usually asks for my annual income—the amount of money I make each year.
The problem is that I don't make the same amount of money each ...
- 3,447