Real Estate/Prosper
| Listing Information | |||
|---|---|---|---|
| Amount: | $10,000.00 | Status: | Loan created |
| Grade: | A | DTI: | 23% |
| Lender Rate: | 11% | Borrower: | hanniss |
| Finished | State: | CA | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Paid | Origination Date: | 2007-04-13 | EricsCC ROI: | 10% |
| Status History | |
|---|---|
| Apr 12, 2007 | Current |
| Sep 29, 2007 | Payoff in progress |
| Oct 03, 2007 | Paid |
|
Prosper Community, I am back! I had a $5000 Prosper loan funded less than a year ago and have since paid it off in full. The mother-in-law unit, for which we took out the loan for, has since been completed (see pictures). My salary has increased over the past six months and we have therefore managed to pay off some smaller debts, which has led to an increase in our credit score, resulting in an improvement of my credit rating from a C to an A. This time, I am applying for a $10,000 loan and I am again offering a relatively high rate of 23% in hopes that this will attract many bidders and in the end reduce the rate. Purpose of loan: 1. Show more money in the bank so that we can obtain attractive financing for acquisition of more rental properties. 2. Build track record within Prosperity Community so that we can borrow more and at lower rates in the future. 3. Build my credit history. I am 33 years old and have been married to my wife for 12. We have four children and do not play the "keeping up with the Jones' " game. Our two cars are fully paid, we purchase our kids' clothes and toys at good will store and rarely go out or take lavish vacations. Our goal is to have sufficient investments built up by 2015 that will generate enought income for our family so that I have the option not to work. We are looking at acquiring another rental property or two (positive or breakeven cashflow) in the next 12 months. Given the weakness in some parts of the US housing market, we believe that there are some attractive bargains available. We currently have around $12,000 in our bank account and would like to show at least $20,000, as most lender require 6 months or more of mortgage payments. In my 10 years of credit history, I have never had a late payment and neither has my wife. I would like to continue building my credit history and reach AA-rating soon as well as continue to build confidence within the Prosper community. Thanks for bidding! |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 21243 | Mother-in-law | C | $8,000 @ 21% | Jun 22, 2006 | Withdrawn |
| 23139 | Mother-in-law unit | C | $5,000 @ 14% | Jul 05, 2006 | Loan created |
| 283775 | Real Estate/Prosper | B | $20,000 @ 19% | Feb 24, 2008 | Loan created |
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