Second Prosper loan to pay off first and get a better rate
| Listing Information | |||
|---|---|---|---|
| Amount: | $4,350.00 | Status: | Loan created |
| Grade: | B | DTI: | 11% |
| Lender Rate: | 11% | Borrower: | InnovativeInvestor |
| Finished | State: | CA | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2008-06-24 | EricsCC ROI: | 9% |
| Status History | |
|---|---|
| Jun 22, 2008 | Current |
|
This loan will be used to directly pay off my first Prosper loan to get a much better interest rate and lower monthly payment. I got my first Prosper loan when I had a C grade and the interest rate
is 19.23% APR. My debt to income ratio they give here is after this
loan, it will actually become about 4.5% less because I will pay off the
first loan with this one. I think I should have an A credit grade, because I pulled my Experian score on 5/11/08 and it was 735 which is well into the A range. Since then I added $195 to my dormant Nordstrom account, and paid down a Visa. It's fascinating to me that I got a B grade. It's definitely near A. I think I am a very good risk because I have a great job as a software engineer with Nokia, a global company which is doing very well and seems to be very immune to the economic problems we've been having. There is virtually no chance that I would lose my job any time soon. And the investments are going very well. My take home pay is much more than my monthly expenses. I have no problem making payments on all my loans and paying more than minimums to reduce my debt. This loan will have a better interest rate than my credit cards and car loan, so I can pay them off, always highest interest rate first. I have a Public record, a Bankruptcy in Apr. 2001. The only delinquencies I've ever had were before then. I've had great credit since then, and in the 80's and 90's. Cheers |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 21532 | Will gladly pay 20% per year to receive 10%+ per month ROI | C | $10,000 @ 19% | Jun 24, 2006 | Loan created |
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