New HVAC system
| Listing Information | |||
|---|---|---|---|
| Amount: | $11,000.00 | Status: | Loan created |
| Grade: | AA | DTI: | 5% |
| Lender Rate: | 8% | Borrower: | gold-mammal |
| Finished | State: | TX | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Paid | Origination Date: | 2010-12-08 | EricsCC ROI: | 8% |
| Status History | |
|---|---|
| Dec 08, 2010 | Current |
| Apr 27, 2011 | Payoff in progress |
| Apr 30, 2011 | Paid |
|
Purpose of loan: This loan will be used to finance the installation of a new HVAC system for my home. My current system is a 17-year old, 10 SEER system that is pretty much done.I originally planned to replace the system next summer but with the resumption of the Texas “cash for clunkers appliance” program and the current federal tax credit, the savings are too good to pass up ($2,575 = $1,500 federal tax credit + $1,075 Texas rebate). My financial situation: I am a good candidate for this loan because my credit history and score (800+, no delinquencies, little credit card usage) prove a mature and conservative approach to spending money and incurring debt. My liabilities are limited to my mortgage ($1,959/mo), student loans ($400/mo), and a renovation loan ($155/mo). The renovation loan was used to rehab an apartment above my garage a couple of month ago, the apartment is now renting for $675 per month (a net positive transaction). Even without the rental income, the loan payments are more than manageable because my current pay is in the $100K area. Moreover, I am expecting a promotion and a substantial raise and bonus this coming March. Lastly, I intend to use the federal tax credit and state rebate money to pay down principal and not for some other use. |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 470665 | Renovating garage apartment | AA | $5,000 @ 8% | Aug 10, 2010 | Withdrawn |
| 471462 | Renovating garage apartment | AA | $5,000 @ 8% | Aug 16, 2010 | Withdrawn |
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