Buying a rental house
| Listing Information | |||
|---|---|---|---|
| Amount: | $5,000.00 | Status: | Loan created |
| Grade: | B | DTI: | 26% |
| Lender Rate: | 12% | Borrower: | refundking7 |
| Finished | State: | MI | |
| Funded: | 100% | Group: | AA-C Rated Borrowers |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Paid | Origination Date: | 2007-08-03 | EricsCC ROI: | 11% |
| Status History | |
|---|---|
| Aug 02, 2007 | Current |
| Aug 05, 2010 | Payoff in progress |
| Aug 11, 2010 | Paid |
|
Purpose of loan: I need your help to put some of 20% of down payment on a mortgage loan for a rental property. My financial situation: I am very responsible with paying my bills. I have $4,000 available balance in my personal bank account but I would like to reserve it for emergency purpose. I will repay you from my gross operating income (figures show below). In case if a tenant fails pay one of month rent, I will repay you money from my personal bank account.The rental property has two units and I will earn $550 each of unit. Total $1,050 monthly. General Income: $12,600 yearly. Operating Expense: $1,000 yearly. Total True Taxes: $2,368 yearly. Gross Operating Income: $9,232 yearly. ($769.33 monthly) 30 years fixed mortgage loan: $243.94 monthly. 3 years fixed Prosper loan: $188.38 monthly. Net Operating Income: $4,044.12 yearly. ($337.01 monthly) Monthly net income: $ 2,267 Monthly expenses: $ 852 Housing: $ 200 (3 roommates split the rent) Insurance: $ 0 (No rental insurance) Car expenses: $ 149 ($74 automobile insurance and $75 gasoline) Utilities: $15 (3 roommates split the electric and gas and water are included in the rent) Phone, cable, Internet: $ 13 (3 roommates split the services) Food, entertainment: $ 200 Clothing, household expenses $ 100 Credit cards and other loans: $ 175 (This is a minimum payment however most of time I overpaid) |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 172391 | Buy a rental house | B | $8,600 @ 14% | Jul 19, 2007 | Withdrawn |
| 304331 | Saving $663.85 from Deferred Finance Charges | C | $2,500 @ 14% | Apr 04, 2008 | Loan created |
| 446333 | This is my third loan with Prosper | D | $15,000 @ 18% | Mar 12, 2010 | Expired |
| 451474 | I am not HR, get credit right | D | $15,000 @ 18% | Mar 23, 2010 | Expired |
| 452429 | I am not HR, get credit right | D | $7,500 @ 15% | Mar 30, 2010 | Expired |
| 458082 | My loan for debt consolidation | HR | $7,500 @ 18% | Oct 13, 2010 | Expired |
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