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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questions with no upvoted or accepted answers
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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 ...
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109
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Tracking Loan Made to someone in Mint
I loaned my son money for his car and he is now paying this back with monthly payments. Is there a way to track that within Mint? Tried setting up different account types, but none of them seem ...
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67
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FHA Loan for legal alien
I'm trying to get approved for a FHA loan and I'm 95% there, was supposed to close in 2 days but we made an extension since we're experiencing some complications.
My family and I applied for ...
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2
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0
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68
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Does a loan for purchasing land provide a tax benefit?
I want to take a loan for land. In the future we want to build house on it, but now we can only afford the land. Would this be a personal loan or home loan?
If I take this land loan can I benefit in ...
- 121
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532
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Can we hand over blank cheques to a bank when applying for any kinda loans?
I applied for a 4 lakh car loan with HDFC Bank, but before they will approve it, they require four blank cheques with my signature. Is it safe to give the bank those cheques?
2
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93
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COVID-19 SBA loan forigveness
The COVID-19 Paycheck Protection Program includes provisions for forgiving those loans.
Normally when debt is forgiven you have to pay taxes on the forgiven debt.
Will recipients of Paycheck ...
- 3,842
2
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0
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24
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What does indemnity mean in a "Historique Espèces" (~= history of cash operations) of a securities account in a French financial institution?
I am reading in a "Historique Espèces" (~= history of cash operations) spreadsheet of a securities account in a French financial institution, namely Fortuneo. It says:
I'm quite confident that indemn....
- 11.4k
2
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125
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Borrowing or raising funds against ISOs
I have some ISOs that are exercised (early exercised/bought) from two different companies I worked at. Their current values are around $15k each.
These amounts aren't enough to transact with ...
- 1,936
2
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0
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184
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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
2
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159
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Why does total interest paid per year increase as I pay down my loan (fixed rate loan)
I have a house loan at a 4.25% fixed APR rate with CitiMortgage. Comparing the total amount of interest I've paid recently, per Citibank's statement I paid $6684 in interest during year one of the ...
- 21
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153
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How can I stop the IRS from withholding refunds for a student loan that is already paid off?
I paid off my student loan over 10 years ago. The IRS is now withholding my refunds. How can I prove this loan has been paid?
- 21
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537
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Buying a new car - price dropped while awaiting delivery
People!
I've been doing okay financially and recently ordered a new car (Middle of April).
While the vehicle is expected to be delivered in the next 2 weeks, I noticed that the dealership website has ...
- 21
2
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105
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Canadian Tax on Loan against FD in NRE account
I have Fixed Deposits [Term Deposits] in HDFC NRE account in India. If I take loan against it and transfer loan funds in Canadian dollars to Canada, do I need to pay any taxes in Canada?
Do I need ...
2
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0
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121
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How to read loan estimate, what to look for?
We are buying a newly constructed house and have been trying to compare loans from 2 different lenders (builder lender and our own lender). They both sent us the loan estimate sheet in similar format ...
- 271
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69
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Am I eligible for a CDC/504 loan as a sole proprietor?
I have a sole proprietor software consultant business, and I am thinking of buying a small office because it would be a better investment than my current office rental. I was looking into loans for ...
- 121
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214
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Underwriters refusing to use TheWorkNumber
Earlier this year, an underwriting department informed me they are no longer allowed to accept TheWorkNumber for employment verification purposes on any Fannie Mae Freddie Mac loans because of ...
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166
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How soon (after your first credit card statement ever) do you get a credit file/history in Canada?
How many days after your first credit card statement EVER does one get a credit report on file with one of the two Canadian bureaus? I'm trying to develop Canadian credit on my first credit card and I ...
- 361
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0
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145
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Who is actually receiving the loan?
Before signing for a guarantor loan for the first time, in reading the contract I'm confused by this wording
Your payment schedule will be:
Number of Payments; 24
Amount of Payments; $ 177.13
When ...
- 19
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vote
0
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83
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Varying interest charges on car loan
I am making my $386 a month car loan payments each month on time. I just looked at the payment history and the amounts of principal and interest vary widely each month.
For example:
October: Balance ...
- 11
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0
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140
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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., ...
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94
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What are some of the factors that affect loan pricing?
In an interview for a bank, I was asked about some of the factors that could affect loan pricing.
They asked me which of the following factor should not affect loan pricing:
credit rating of sponsors;...
- 11
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vote
1
answer
175
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Avalilability of very short term loan options for non-salary individual in India
I am a student and I have a non-salary account. I mean, I am not getting salary and getting money every month as scholarship. The amount I am getting as scholarship is not less and is at-least ...
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32
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Question for Xenith (Eikon) Expert - Is the following data available...?
In the ''Universe'' tab are many different options: Government and Corporate Bonds, Equities, Funds, Indices, Equity & Index Derivatives, Companies/Issuers, Commodities, FX & Money, Benchmarks ...
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44
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Do you need to pay any income tax on a director's loan in the UK?
If there is large director's loan, say £40,000, but that amount is paid back before the deadline of 9 months past the company year end, and the interest is paid to the company at HMRC's recommended ...
- 279
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128
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How do I know when my applications for disaster relief loans have been approved?
I applied to all 3 programs as I have a business in NYC:
SBA EIDL - Economic Injury Disaster Loan Emergency Advance
PPP - Paycheck Protection Program
NYC Small Business Continuity Program
I think I ...
- 2,025
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32
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Enhancement of the open source lib for calculation of IRR (internal rate rate)
I am cs student , and has been asked to enhance the documentation for open source lib finance.js for IIR (internal rate of return) for various industry
Here I am trying to calculate IIR for the ...
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vote
0
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83
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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
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107
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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 ...
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UK: National Insurance on employee loans when there is no interest benefit
HMRC states that you have to report on a P11D and pay Class 1A National Insurance on the value of any benefit when a 'beneficial loan' is made to an employee.
https://www.gov.uk/expenses-and-benefits-...
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195
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Bank Loan for Father's property
Is it possible for me to acquire a bank loan for purchasing a house from my father if it is not ancestral property?
- 11
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145
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Tax return rejected, received a check
I filed my tax return in 2015 using TurboTax and received a check from both federal government and state. I am currently applying for a loan. When I downloaded the tax return statement (from ...
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185
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Is interest-free loan to a domestic partner taxable?
Let's say I want to transfer $20,000 as a gift to my fiancée. After a few months (within the same year) she returns the money back to me, with no interest, as we agreed beforehand.
Does this imply ...
- 121
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376
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Guidelines on when to buy or rent an apartment (in Europe)
I am currently facing an important decision for my life: I finished studies and will soon enter industry to work. Due to the fact that I will likely earn some money on a regular basis, I want to ...
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243
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What is formula to calculate “In 5 years” amount on page 3 of the mortgage Loan Estimate form?
Loan Estimate form for mortgages in US have a "In 5 years" amount paid. What is the formula for calculating that based on other values in the form ?
On page 3 of the example form at http://www....
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154
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What are the tax etc. implications of giving a friend's company an interest free loan?
I want to extend a loan of $50,000.00 ,interest free, to a friend to start a business. Can he deposit this check into his account and not incur any tax difficulties? Are there any tax implications for ...
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302
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Calculate Months Until Loan Break-Even (Lender Perspective)
I'm invested in LendingClub and I want to take a loan and be able to calculate the date that I would break even. I want to know the date when my investment (note amount) equals the total payments ...
- 111
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0
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182
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How to calculate interest charged on my loan given a series of dates & payments?
I want to calculate the interest rate payed for this loan using Mathematica.
The initial amount was of 12000€, then they asked to pay 240€ for opening the loan and another 870€ for the insurance for ...
- 113
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64
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Proceeds of house sale for study loan
Sale of House proceeds is 50lacs. profit from sale of property 15 lacs.
I have student loan 30 lacs.
Should I pay student loan first or buy property. My all transactions are in in INDIA.
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Are all my sources of income considered when calculating the repayment of my student loan?
Actually, I have two questions.
I have a student loan income-based repayment, from my studies in the UK. Are any other income sources rather than my salary considered?. For example, a rent I get from ...
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44
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Credit Investing - Best Metric To Compare Spread / Yield Per Unit of Risk
Do people investing in credit (leveraged loans / high yield) that want to compare different industries / different valued businesses ever look at spread per turn of LTV (or the inverse, 1/LTV = asset ...
- 1
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Determine loan interest rate from income statements and balance sheets
I'm trying to determine the loan interest rate from financial statements, e.g https://finance.yahoo.com/quote/VLVLY/balance-sheet?p=VLVLY
Here's what I got
Interesting expense 1,205,000 = 12.05B
...
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89
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Loan Payment Formula Terminology
Consider the following formula:
Payment = P * ([r * (1 + r)^n] / [([1 + r]^n) - 1])
Do any parts of this expression (not single variables) have a name? For example, (1 + r)^n repeats. Is there a name ...
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54
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Do collateralized loans impact your credit score?
Do collateralized loans impact your credit score?
Such as a securities loan collateralized by your stocks, a refinance on your home, a personal loan collateralized by a car, and so on.
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My parents live in England. I live and file taxes in the US. I want to make them an interest free loan to buy a house. Payable at death / house sale
I considered purchasing it as joint tenants in common but that triggers stamp duty on the entire purchase as I’m a non UK resident. I thought they may be able to amend their will to represent the ...
- 1
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0
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28
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Choosing between a deep discount bond and a loan with variable interest rate
I was wondering what kind of a method should be used to choose between a deep discount bond and a loan with variable interest. Since one option has a fixed rate, and the other has a variable interest ...
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1
answer
98
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Indian Income Tax System Rebate on Education Loan and House Rent
I am a recent graduate and will be starting my job in a couple of days.
My offer Letter says
CTC Offered:
● X LPA (can't disclose the actual amount) -> fixed
and it is written that:
Applicable ...
- 101
0
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35
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Interest and principal line-item amounts for seasonal mortgage
I'm working with this question: Seasonal Loan Amortization. I wondered if someone could elaborate how to calculate the principal and interest portions of the payments when they are paid. The article ...
- 1
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93
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Profit sharing after a property has been sold
my cousin and l jointly owned a property which we have just sold. There was an outstanding balance of 20,000 on the mortgage as at when we sold. The ownership is 50/50. Do l deduct the balance ...
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what is the actual OBFR loan rate fee?
The OBFR for March 13 2020 was 1.10%. When a company takes a 1 million over night loan, so they pay 1.1% fee of $11,000, or is it annual like credit card and mortgage where the 1.1% gets divided by ...
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Specific name for a refinancing mortgage loan
I have a translation issue and I'm not sure where else to turn for help. In our country, there is a type of refinancing of a mortgage loan, which works thusly:
Someone decides to renovate their ...
