All Questions
Tagged with loans united-states
290
questions
8
votes
3
answers
2k
views
How can a senior finance building a home with no current credit score but good equity in current home?
Many seniors have paid off their mortgages and car loans and haven't needed to borrow money in years, hence have no current credit score. Senior wants to downsize home but there is nothing suitable on ...
- 368
0
votes
3
answers
153
views
Do lenders consider stocks and bonuses as part of your income?
Most tech companies give their employees a basic income plus a certain amount of stocks plus annual bonuses.
I am wondering if someone has a $120k salary + $50k stocks + $50k bonus in a year, would ...
- 151
0
votes
1
answer
239
views
Is it a good idea to take a loan just to build borrowing history? (United States)
Context
My current car, a hand-me-down from a family member, is 10+ years old with ~100k miles and starting to have enough problems that maintenance costs are quickly piling up. Over the last 2 years ...
- 178
1
vote
2
answers
171
views
IRA withdraw penalties vs interest rates today
Here's a interesting point of view/question. With interest rates near 10% for loans these days - used car loans at 9.06% for someone with excellent credit - are we at a point where it makes more sense ...
- 111
7
votes
4
answers
3k
views
How to compare loan interest rate to savings account interest rate?
I don't understand how to compare my loan's interest rate to my savings account interest rate.
My savings account states:
The Interest Rate on your account is 4.0249% with an Annual Percentage Yield ...
- 173
0
votes
1
answer
99
views
Minimizing tax liability in business purchase w/ personal loan from other partner
I'm purchasing an existing business with a business partner. They're in a better position than I am regarding liquid assets. I've got most of my assets in positions where I'd be paying high short term ...
user12007
2
votes
1
answer
2k
views
My girlfriend helped me buy a car - Who is responsible if she takes it back?
My original car was totaled, and I couldn't get a car on my own due to bad credit. The dealership approved me at a high rate with money down. When I get my trust fund, I can buy one.
My girlfriend ...
- 21
3
votes
1
answer
644
views
Can applying for a new loan affect my existing mortgage? (US)
I live in the US and I am a somewhat mature full-time graduate student. I have gone back to grad school after having spent some years working and I have children and a mortgage. My school has a policy ...
- 695
0
votes
1
answer
145
views
Do student loans capitalize daily after the grace period?
As I understand it, for many student loans, when you take out the loan, there is a daily, fixed, simple interest that accrues. This accrues on the principal but does not capitalize. Therefore, if I am ...
- 312
8
votes
7
answers
6k
views
When is it worth taking out a loan for something I could pay in cash?
I'm trying to better understand the time-value of money and how to compare interest rates vs. investment returns.
In general, if I can pay for something in cash or short-term credit (paid off monthly),...
- 287
0
votes
1
answer
173
views
Salary doubled on credit app - what could happen?
I recently applied for credit for a loan for a solar system. I submitted the form on the solar companies website. They sent it to some loan company who sent me their credit application doc to sign ...
- 143
8
votes
1
answer
842
views
US: tax on revenues from loans (I'm the lender) and other services?
I have some spare money and would sometimes loan it to strangers in need on the internet. Let's say that I loan $100 and get $150 back after 5 weeks. Only that $50 should count as my income right? And ...
- 331
21
votes
9
answers
6k
views
What would be a recommended interest rate for an unsecured loan to individuals with mediocre credit rating and income close to expenses?
I have a friend whose new wife is paying an absurdly high interest rate on her auto loan. They've asked if I was willing to loan them money at a more reasonable rate to pay off that loan and have ...
- 1,206
2
votes
1
answer
292
views
Borrow from 401k (and pay interest to myself) or take a loan from bank (and pay interest to the bank) to buy a car?
Should I borrow against my 401k at 6% interest rate (which I pay to myself) or take a loan through a bank at 3.5% interest rate (which is paid to the bank)? Buying a car for my kids and can't afford ...
- 21
0
votes
1
answer
1k
views
When using land as a down payment for a construction loan, how much money can I borrow?
I am looking to purchase some land in cash (in the USA) and build a house on the land. I intend to use the land as equity (as part of the down payment) for a construction loan.
I'm looking to ...
1
vote
1
answer
324
views
Income Tax Return: Is the co-op's mortgage (not the lending institution mortgage) a secured or unsecured loan?
I have two 1098 forms: One from the lending institution and another from the Corporation. For the lending institution 1098 form, I deduct the mortgage interest and there are no real estate taxes. It's ...
- 145
8
votes
4
answers
4k
views
What could prevent a bank from lending to me to buy commercial real estate?
If I want to take out loans to buy real estate with the intention of renting it to cover the interest on the loans, what are the red flags that might prevent a bank from extending a loan to me?
...
- 9,785
2
votes
1
answer
105
views
Federal Perkins Loan is showing up unsubsidized despite not taking any unsubsidized loans
I've been repaying student debt and my university recently sent a loan that I didn't know I had to a collection agency. The loan is listed as a "federal Perkins direct Stafford" loan that is ...
3
votes
0
answers
345
views
How does “Velocity Banking” actually work?
I’ve seen this mentioned a few times now in various financial articles, but it smells like some kind of “system” a gambling addict would come up with to “beat the house”. Doing a web search on it, I ...
- 309
1
vote
0
answers
140
views
Are indexed universal life insurances of any use from a tax mitigation standpoint (= looking at after-tax returns) vs. a regular investment account?
I am a US lawful permanent resident. I am interested to know whether indexed universal life insurances have any upside from a tax mitigation standpoint compared to a regular investment account. I.e., ...
- 11.4k
0
votes
1
answer
96
views
Are there any loan options for the international students in the US? [closed]
I am an international student of one of the university of California campuses. I study PhD and am a fully funded student with around $30,000 annual salary(before tax).
I need about $5000 in cash and ...
user109157
2
votes
2
answers
350
views
What is the procedure of getting an auto loan?
I am a new international student in the US. My credit score is 702 in the Capitalone credit wise and 710 in the CreditKarma website. I am a fully funded PhD student and have an annual income around $...
user109157
18
votes
8
answers
11k
views
Can I take out a loan and pay it back immediately to avoid interest?
Ignoring why I would do so, I am wondering if it is possible to take out a personal loan (at, say, ~6% annual interest) and then pay back the principal + any interest back within a short time (within ...
- 2,898
2
votes
2
answers
247
views
What are the legal and tax implications of crypto lending?
With high interest rates for crypto loans, I'm currently thinking of lending out my cryptocurrency on a crypto lending platform like Celsius Network. However, I'm not too sure about the implications ...
- 167
2
votes
1
answer
155
views
How fast will my credit score increase?
I have 12k in students loans (all of which isnt required to start making payments until Q4 2021) owed to non-government lenders, and have roughly a 1.5k credit balance currently, with 3 lines of ...
4
votes
1
answer
493
views
401K Loan - Company switched providers and rules
My company (a large health co) merged with a larger Pharm Co. In this process, we basically got all the Pharm Co benefits. When with the health co, I took out a 401k loan which had the provisions that ...
- 41
3
votes
2
answers
1k
views
Borrow and return HSA funds in same tax year - taxes and/or penalty?
I've had an Health Savings Account for several years now, and I know I can only take out funds from it for qualified medical expenses.
I'm wondering if there will be any taxes and/or penalties if I do ...
- 133
2
votes
1
answer
217
views
Can I use my lot as security on a credit line?
I purchased an empty lot next to my house. I'm very glad to have it, but I did naively think that perhaps that I could use this lot as something like a credit card. Using it as collateral for a ...
- 121
1
vote
1
answer
125
views
Would a hypothetical, ever-appreciating asset allow for infinite collateralized loan-rolling?
If I owned a hypothetical asset that was deemed extremely safe, and permanently increased in value over time (allowing me to borrow a similar percentage of the asset's value each time the loan reached ...
- 2,898
5
votes
2
answers
257
views
Taking out a 401K Loan vs. Liquidating Investments - what's better?
Let's assume the following:
I need $50K for various expenditures (aka simply spending, not paying off CC debt or putting the money somewhere else).
I can either liquidate regular taxable investments ...
- 119