Eric's Credit Community

Purpose of loan: I will be using this loan to do ongoing improvements that will continue to build further equity in my home. My plans include new carpet and flooring for much of my home and a minor remodeling of the three bathrooms in the home. My previous updates to the home have greatly increased its value and it recently appraised at $317,000 after I purchased the home for $200,000 in 2004.

My financial situation: I believe that I am an excellent candidate for this loan as I always stay current in all of my bills. I have set up this loan for automatic draft from my checking account. I have a previously funded prosper loan ?bid down to 16.25%? that was used to purchase a Lincoln Navigator and to pay off two credit cards. As with all of my bills, all of my Prosper loan payments have been on time, every time. My credit grade went down slightly in the last six months because of a few inquiries from when I was considering refinancing my home to pay for these improvements. I have decided that Prosper is the better option for me as I may sell my home in the next two or three years to purchase a different home with my fiance. With Prosper I don?t have to worry about a prepayment penalty or large closing costs.

I am a 31 year old homeowner with significant equity built into my home and I am employed full time as a stock financial analyst for an investment firm. My provable annual gross income from my full time job is $45,000 however I also have additional rental and investment income that has grown to $16,200 annually. My debt to income ratio would be much lower if you take into account this additional income. I always pay back my loans on time or early and I intend to make this one no different. I have never been late on a mortgage payment and I keep immaculate records of my finances. I treat all of my financial obligations seriously, and you can feel confident about your investment in me. Thank you for your interest and please feel free to ask me any questions.


Monthly gross income: $5,100
Monthly net income: $4,462

Total Monthly expenses: $ 2,997
Housing: $ 1667
Insurance: $ 168
Utilities: $ 125
Phone, cable, internet: $90
Food, clothing, entertainment, loan payments: $ 947