Closing Costs for a Home Sale
| Listing Information | |||
|---|---|---|---|
| Amount: | $3,400.00 | Status: | Loan created |
| Grade: | D | DTI: | 20% |
| Lender Rate: | 16% | Borrower: | gobucks2006 |
| Finished | State: | OH | |
| Funded: | 100% | Group: | Pr*mise Keepers - Guaranteed funding for low-risk borrowers |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2008-02-25 | EricsCC ROI: | 13% |
| Status History | |
|---|---|
| Feb 23, 2008 | Current |
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About me: Hi, my name is Jim. I'm a happily married father of 2 great kids. I've been with the same company for 8.5 years and I am completely happy there. I like to garden and watch sports--when spongebob is not on :) Purpose of loan: I'm looking to borrow $3400 for closing costs to sell my home. Once sold, my new housing payment(renting an apartment)will be $765 for a large, 3 bedroom townhouse. The sale price of my home is $116,900, with me paying 3% of the buyers closing costs(about $3500). Currently, my mortgages are $1250. I'll be saving $500/mth+ on housing and utilities starting next month. In 1-2 years, we'll be looking for another home. Out of the $31,500 listed as revolving credit on my profile above, $26,500 is from my 2nd mortgage. This will be paid off after my house closes. My outstanding credit will then be $5000. This should move me into the "B" credit range. I've added a little more info to my profile/decription and listed a Q & A section below from my first listing. Please look at this below for additonal info. I will have no problem paying on this loan--I recently(2 weeks ago)received a promotion at my work and will earn $81,000+ this year--a $21,000 increase from last year. I'm just in a cash flow crunch right now! Thanks for looking!! My financial situation: I know I've had some credit issues in the past, but I've never been more than 30 days. Part of the problem is my high revolving credit(with most being paid once my house sells--from the 2nd mortgage). I faxed to my group leader the home purchase contract, along with my pay stub showing my new yearly rate of $81,000. He didn't ask for the pay stub, but I wanted to put any doubt aside. In addition, my company has a profit sharing program that has averaged $4000/yr. the 8 years I've been there. My net monthly pay= $4200(just started--up from $3000)+profit sharing(approx. $4000/yr) My wife's net monthly pay= $1800 Stable job that I've been at for 8.5 years--wife has been with same company for 4 years(family business). Monthly net income: $6000 Monthly expenses: $ 4116.....$3616 when house sells. Housing: $ 1250 (with house sold it will be $800) Prosper Loan: $216 Insurance: $ 85 Car expenses: $ 295 Gas(car): $100 Utilities: $ 250 Phone, cable, internet: $ 140 Food, entertainment: $ 650 Clothing, household expenses $ 250 Student Loans: $ 180 (2 student loans) Credit Cards: $200 Other expenses: $ 500(kids are expensive!) Q & A Q: may i ask how long you've owned your home and how much equity you've established? have you considered using a home equity loan or HELOC to consolidate your debt (at a more favorable and tax-deductible interest rate than 23%)? thanks again. -TheMayorOfOceanaire A: Owned my home for 6 years.....i pay $890 for a 1st and $360 for a 2nd mortgage= $1250 total. Balance on 1st is $91300 and 2nd is $26500. Not much equity in the house at all(maybe a couple thousand). (Jun-02-2007) Q: thanks for answering and posting my previous question. do you have any day-care expenses that are not shown in your budget? -TheMayorOfOceanaire A: $200 per month on average |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 145566 | Consolidate Bills | D | $6,000 @ 22% | Jun 01, 2007 | Expired |
| 148829 | Relisting--Consolidate Bills | D | $6,000 @ 17% | Jun 13, 2007 | Loan created |
| 268306 | Down payment 2007 Ford Taurus | D | $2,500 @ 22% | Jan 19, 2008 | Expired |
| 271490 | Down payment 2007 Ford Taurus | D | $2,000 @ 22% | Jan 28, 2008 | Withdrawn |
| 273368 | Selling house-need help closing costs | D | $3,500 @ 22% | Jan 30, 2008 | Withdrawn |
| 276350 | Relisting--Selling house-need help with closing costs | D | $2,000 @ 22% | Feb 05, 2008 | Withdrawn |
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