Building Excellent Credit for a New House
| Listing Information | |||
|---|---|---|---|
| Amount: | $15,000.00 | Status: | Loan created |
| Grade: | B | DTI: | 47% |
| Lender Rate: | 11% | Borrower: | noisedoll |
| Finished | State: | OR | |
| Funded: | 100% | Group: | MONEY DIES |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Paid | Origination Date: | 2007-03-01 | EricsCC ROI: | 11% |
| Status History | |
|---|---|
| Mar 01, 2007 | Current |
| Feb 07, 2008 | Payoff in progress |
| Feb 13, 2008 | Paid |
|
Introduction I was born and raised in Omaha, Nebraska, graduated with a BA from the University of Nebraska, married the love of my life, and currently live just outside Portland, OR. My Current Financial Situation CREDIT CitiBank CC 18.99% $4,869 ($137/mo.) ? to be paid off with loan Chase Visa 29.99% $4,101 ($141/mo.) ? to be paid off with loan Chase MC 23.99% $3,378 ($103/mo.) ? to be paid off with loan Student Loan $19,000 balance ($120) Auto Loan $2,663 balance ($190/mo.) ? to be paid off with loan OTHER EXPENSES House Rental $0/mo. (see living situation below) Utilities $0/mo. (see living situation below) Groceries $160/mo. Vonage Phone $11/mo. Car Insurance $70/mo. SALARY $2,400/mo. ($31,200/yr.) (my husband makes $50,000/yr. and has significantly less credit card debt) Why I'm Here My husband and I are simply looking to consolidate debt at a lower interest rate. We'll be looking for a house soon and want to have immaculate credit scores. Why keep paying interest to greedy creditors when we could be helping fellow Americans earn an honest buck! To be courteous, I want to let you know that we may be paying this off early. No earlier than 1 year, perhaps around the 2 year mark. My Job and Living Situation I am a website developer/online store manager and make an annual salary of $31,200. The nice thing about this job is that I rent a 4 bedroom house from my employer. So ON TOP of my $31k salary, the company pays for all of my rental house plus utilities. Add that to my salary and I make well over $44,000 per year. My Credit History MyFICO reported a score of 694 and not one single late payment. Ever. MyFICO says the only thing wrong with my history is that it is too short ? nothing I can do about that now. I have 8 accounts and they are as follows: 3 student loan accounts (1 of which is paid off), 1 auto loan, and 4 credit cards (1 of which has been shredded since 2002). Trust me, if I get a loan, the monthly payments come before EVERYTHING else. Conclusion My DTI ratio is high because I didn't list my husband's income. Like I said, he makes $50,000/yr. and has only one credit card to pay for. |
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