Help me purchase my first home
| Listing Information | |||
|---|---|---|---|
| Amount: | $12,000.00 | Status: | Loan created |
| Grade: | A | DTI: | 26% |
| Lender Rate: | 10% | Borrower: | nbaum01 |
| Finished | State: | NJ | |
| Funded: | 100% | Group: | College Graduates Under 30 |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2007-10-23 | EricsCC ROI: | 8% |
| Status History | |
|---|---|
| Oct 21, 2007 | Current |
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Hello everyone and thank you for taking time to read my listing. I am a 24 year-old college graduate currently working a steady job at Merrill Lynch. I am taking my Series 7 examination at the end of the month, which will open up new positions to me. I am a hardworking, goal-oriented individual which is what brings me to Prosper. Purpose of loan: I currently rent an apartment with my girlfriend in Center City Philadelphia. We would really like to purchase our very first home together. In order to do this, I need to consolidate and pay off high interest rate credit cards I got in college, so I can comfortably save more each month for an eventual down payment on our first home. My financial situation: I have an A credit rating because I constantly pay my bills on time, and this Prosper loan will be no exception. I would like to pay off this debt and save my money for one of the biggest investments in my future. My expenses are listed below. Rent and utilities are split equally with my girlfriend and my half is shown below. Monthly net income: $2,000+ (will be more with overtime hours) Monthly expenses: Capital One credit card - $400 (card at a 28% interest rate) Amazon credit card - $120 (card at a 17% interest rate) *Prosper loan will be used to pay off the two credit cards listed above* Rent - $575 Student Loans - $190 Cable, Internet and Phone - $75 Electric - $50 Renter's Insurance - $13 Food - $200 Entertainment - $100 Personal savings - $50 Total monthly expenses: $1763 Total expendable income: $237 Monthly Prosper loan payment: $411.77 Monthly savings due to Prosper loan: $108.23 Savings due to Prosper loan over 3 year repayment period: $3,896.28 Personal savings over 3 year repayment period: $1,800 Total savings for a down payment on our first home: $5,696.28 |
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