A new loan funded (Secure Borrower needs funds to complete rental houses — $25,000 at 12.00%). I participated via my standing order: Mid DTI — AF. Which is this loan was funded as a medium debt to income ratio and was an auto-funding loan. The borrow had AA credit and 25% DTI. As a reminder my standing orders only find loans with 0 current delinquencies, 10 or less delinquencies in the last 7 years, and 2 or less public records in the last 10.
With this loan I have $3,250 across 52 loans ($62.50 per loan) with an weighted average interest rate of 15.86% and an account value of $3,441.44. Each loan on average is 1.8% of my portfolio.
Here is the listing:
For the readers that believe in reading the actual description without modification:
I am an excellent borrower who just read about Prosper in the Wall Street Journal last week and thought I would try it out. I live in a college town and need to get four of my rental houses repaired before the spring rental season. I have thirty units right now and just need some quick cash to get a few completed within the next two months.
Bid on my loan, you won’t be disappointed!
Adam
Here is a graph of all loans on Prosper with AA credit and a DTI of 25% +/-5% and Loan Amount $20,000 +/-$5,000:
| Number of Loans | Average Amount Borrowed | Weighted Average | Standard Deviation |
|---|---|---|---|
| 19 | $18,868.42 | 13.10% | 1.91% |
13.10% weighted average, but it is within one standard deviation (11.19% at the bottom). Maybe I need to up my standing order interest rate?
What do you think?
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