Working Capital for Home Improvements
| Listing Information | |||
|---|---|---|---|
| Amount: | $13,200.00 | Status: | Loan created |
| Grade: | A | DTI: | 21% |
| Lender Rate: | 11% | Borrower: | emackert |
| Finished | State: | NC | |
| Funded: | 100% | Group: | BORROWERS - LARGEST GROUP |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Paid | Origination Date: | 2007-06-22 | EricsCC ROI: | 11% |
| Status History | |
|---|---|
| Jun 21, 2007 | Current |
| Dec 06, 2008 | Payoff in progress |
| Dec 11, 2008 | Paid |
|
Purpose of loan: We (my wife and I) just bought a brand new house in February 2007. We are now looking to expand with an office space as I primarily work from home for my employer and square footage is currently limited. The costs of this improvement include expansion and renovation to our existing home. Our financial situation: Between the two of us we have a very stable financial situation. Although we could try going to the bank for a loan, we do not have enough equity built up in our house yet for a home equity line of credit. Additionally, I am interested in introducing this loan at a very high rate for my credit rating (24.5% to lenders) to see if the market on Prosper.com really does work effectively. Overall we are a zero risk investment. Monthly gross income (combined & estimated, based on a tax adjusted yearly income/12): $ 13,750 Monthly net income after tax and other distribution adjustments (take-home, estimated): $ 10,577 Monthly expenses (estimated): $ 6,760 Housing: $ 2,900 Insurance: $ 225 Car expenses: $ 0 Utilities: $ 255 Phone, cable, internet: $ 219 Food, entertainment, other household goods: $ 700 Clothing, household expenses $ 200 Credit cards and other loans: $ 400 Other expenses (inc. non-recordable debt repayment & other monthly expenses): $ 1,195 Retirement savings: $ 666 Student loans: $ 245 As you can see, we are in a financially viable position to pay back a loan of this size. Thank you for your interest, -Eric |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 81024 | Borrowing to directly reinvest on Prosper.com | A | $1,000 @ 6% | Jan 03, 2007 | Cancelled |
| 98814 | Borrowing to Directly Reinvest on Prosper.com | A | $5,000 @ 6% | Feb 12, 2007 | Withdrawn |
| 101830 | Borrowing for Direct Reinvestment on Prosper.com | A | $5,000 @ 9% | Feb 20, 2007 | Expired |
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