Finishing the basement
| Listing Information | |||
|---|---|---|---|
| Amount: | $10,000.00 | Status: | Loan created |
| Grade: | A | DTI: | 55% |
| Lender Rate: | 15% | Borrower: | starsfan99 |
| Finished | State: | GA | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2008-04-04 | EricsCC ROI: | 13% |
| Status History | |
|---|---|
| Apr 04, 2008 | Current |
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Purpose of loan: This loan will be used to complete the bathroom, foyer and kitchen in the basement project that I have been working on for the past 3 years. Currently all framing, plumbing, electrical and HVAC have been completed and the office has been completely finished. My financial situation: I am a good candidate for this loan because I have shown the ability to repay my debts on time and have not been late on any payments. My DTI appears high due to the fact that my wife also works full time as a dental assistant and contributes an additional $2200 per month and I am the primary borrower on the majority of our debt. We have been married for thirteen years and are currently on pace to have all of our other credit debt paid off by December 2010. The positive equity gained by the completion of this project should allow us to refinance our mortgage at a more favorable rate and avoid PMI all together as well as possibly eliminate our other credit debt before the end of 2010. |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 295847 | Finishing the basement | A | $20,000 @ 21% | Mar 19, 2008 | Expired |
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