Prosper Lender - AA credit with 1% DTI
| Listing Information | |||
|---|---|---|---|
| Amount: | $5,000.00 | Status: | Loan created |
| Grade: | AA | DTI: | 1% |
| Lender Rate: | 8% | Borrower: | RehabDoc |
| Finished | State: | FL | |
| Funded: | 100% | Group: | MONEY DIES |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Paid | Origination Date: | 2007-06-18 | EricsCC ROI: | 7% |
| Status History | |
|---|---|
| Jun 16, 2007 | Current |
| Jul 16, 2007 | Payoff in progress |
| Jul 20, 2007 | Paid |
|
Purpose of loan: The best rate you can get at a bank right now is between 4-5% and thats usually an internet based bank. I am usually a lender and want to experiment with the borrowing side of a transaction, partly because i want to verify that Prosper is a suitable vehicle for investment going forward. I don't need the money but will use it as an experience with the lending side of things. I will reinvest all of this money intoProsper, using my AA credit to help others and make a modest gain, while diversifying a bit from Stocks and Real Estate which have been volatile as of late. My payments will be automatically paid each month. I have a verified account and own my home. I have several (> 10) open loans where i am the lender in prosper. This service is a great idea and really cuts down on the red tape of going to the bank for a loan. I hope this service and site become the new standard. My financial situation: I am a physician and work too much to spend money :) I grew up with very frugal parents who taught me to save at a young age and taught me the power of compounded interest and the value of "paying yourself first" in savings and using dollar cost averaging each month to purchase quality stocks or funds. My credit grade is 800+ and my DTI is 1% or less. I never make a late payment because all of my accounts are set up to withdraw from my checking account which never has less than $30k in it. This allows me to focus more on work and less on watching the due dates, and the autopilot mode saves stamps and is great when going on vacations or when buried in long hours at work. The only debt i have is a primary home mortgage at 5.125% with a monthly payment of $1600 while my take home (after tax) pay is $30k monthly. Can be higher if quarterly bonuses are included in the calculation. Monthly net income: $ 30, 000.00 + Monthly expenses: $ Housing: $ 1600 Insurance: $ 550 Car expenses: $ 180 (insurance).... all 3 vehicles are paid off Utilities: $ 450 Phone, cable, internet: $ 120 Food, entertainment: $ 300 Clothing, household expenses $ 500 Credit cards and other loans: $ 0 (balances paid in full monthly to take advantage of 5% cash back offers with American Express and Chase Mastercard credit cards. Never had a late payment.......EVER. Other expenses: $ 200 |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 208908 | Prosper Lender - AA credit with 0% DTI - FICO 840 | AA | $4,900 @ 9% | Sep 30, 2007 | Withdrawn |
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