Getting Home Ready To Sell
| Listing Information | |||
|---|---|---|---|
| Amount: | $23,500.00 | Status: | Loan created |
| Grade: | AA | DTI: | 13% |
| Lender Rate: | 10% | Borrower: | brvheart |
| Finished | State: | IA | |
| Funded: | 100% | Group: | No Bull Investors - We Invest In Good Borrowers |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2007-04-19 | EricsCC ROI: | 7% |
| Status History | |
|---|---|
| Apr 19, 2007 | Current |
|
HELLO
LENDERS!I'm new to Prosper, but I think it's a very cool idea.
My name is John and I live in Iowa with my wife Jenny and our five kids. I own my home and also
own 3 duplexes. I have decent credit and have already made my first
deposit as a lender, but I'd now like to try the borrowing side. I'd like
to use the money from my Prosper loan to fix up some things around my home in
order to sell it. We need to build a new retaining wall the length
of our driveway, we want to fix our landscaping, some sections of siding need
to be replaced, we need to paint several rooms and we need to recarpet our
entire house... due to our crazy kids. :) We would like to move closer to where I work and where our church is located. I currently live 30 minutes from work and 25 minutes from church, so a move would not only make life more convenient, but would also save us a ton of money on gas! My current monthly personal P&L report:Income: Salary $ 4723 (My wife is a stay-at-home mom, the hardest/best job in the world) Rental Income $ 3945 (average over last 3 years) note: I used $90,000 for my income, even though it's technically just over $100,000. But as many of you know, rental income can fluctuate if tenants can't pay rent. TOTAL MONTHLY INCOME: $ 8668 We own a Chevy Tahoe, Dodge Caravan, and Geo Metro, but have no loans on them. Expenses: Home Mortgage $1200 Rental Expenses (Including mortgages) $2990 HELOC $280 Life/Car/Home Insurance $320 Utilities $300 Internet / phone $ 90 Food $500 Gas $300 Medical Insurance / HSA $693 401K $377 Church $500 Credit Cards $200 ( Being paid off with my Prosper loan )TOTAL MONTHLY EXPENSES: $ 7750Remaining surplus per month $ 1118 ( After credit cards are paid )I also plan on paying off my remaining credit card balances, as my Discover Card has a 0% rate that is ending soon. My home mortgage is currently at around $130k, the assessed value of the house is around $190k, and my realtor is confident that I can get $210-$220. Technically I could pay this loan off when I sell my home, but in an effort to help the Prosper community I currently plan on not paying this loan off early, as I want to provide lenders with a long term low risk loan. Thank you for your consideration. All questions are welcome. |
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