A legitimate borrower at Prosper should have 1 main objective — get the loan fully funded. Granted there are other objectives (like getting the best interest rate), but none are as important as getting 100% funded. Without being 100% funded you will not get the loan.
Prosper.com can be used to obtain up to $25,000 dollars in funding by borrowing money from ordinary people via the Prosper peer-to-peer lending platform. This funding can typically be obtained faster and with less hassle than your local bank.
To the end goal of getting your listing fully funded I have some rate guidance for borrowers. These rates will get your legitimate listing funded. This is not to say that listings with fraudulent, poorly written, missing information, or unexplained flaws will fund. BUT, all legitimate well written and well meaning borrowers will get funded at these rates…
I encourage all borrowers interested in Prosper to click the banner on the top right of this page and explore for yourself. There are many strategies for some of the other objectives, but for getting to 100% funded there is no better strategy than picking the correct starting interest rate.
Without further ado… borrowers please use these rates with your listing for all credit grades 29% … lol j/k.
| Credit Grade | Interest Rate | Fully Funding % |
|---|---|---|
| AA | 13% | 90% |
| A | 16% | 90% |
| B | 20% | 85% |
| C | 23% | 80% |
| D | 27% | 80% |
| E | 29% | 75% |
| HR | 29% | 50% |
p.s. If you want my money you will also make your listing automatic funding.
Related Posts -
My Prosper Internal Rate of Return Update (End of Jly 07) = 0.57% This is a RateLadder only IRR update. (An IRR lender âgameâ update is in the works.) I saw a big spike in loan 1 month late or more. Here is my permanent tracking page: http://rateladder.com/my-prosper-irr/ My Prosper IRR is defined as: Monthly cash flows with one extra month using the...... - Prosper 50 Best Websites 2007 By Time Time names Prosper one of 50 Best Websites 2007. Prosper is a community of lenders and borrowersâor social lending networkâoperates outside of any bank, so the rates are better. Post a request for a loan, including desired amount and the maximum interest rate you'd be willing to pay; potential lenders......
-
Display your Prosper Listing on Your MySpace Page Now you can display your Listing on your MySpace Page. Or your blog, or website... The possibilities are endless. Here is a random listing on Prosper. $25 Bonus For New Lenders How to Use Prosper Listing Widget for MySpace, Blog, Website, or Other Here is a link to my MySpace...... - My Prosper Internal Rate of Return Update (End of August 07) = 2.75% This is a RateLadder only IRR update. (An IRR lender âgameâ update is in the works.) I was involved with my first default debt sale. I sold 1 AA loan for 25% of prinicpal. Here is my permanent tracking page: http://rateladder.com/my-prosper-irr/ My Prosper IRR is defined as: Monthly cash flows......
- Prosper.com and Your Emergency Fund I was reading an article on bankrate.com about Using a CD Ladder as Parking Locations for Your Emergency Fund. One of the big problems with a CD Ladder is the finite number of times you can withdraw money without a fee. Another big problem is length of time it......
Related Websites - Weekly Roundup - Hands Off My Clunker Edition Videos are now beginning to surface showing the destruction of perfectly good automobiles thanks to the cash for clunkers program. I fail to see the stimulative effects of disabling the engine of a car with thousands of useful miles in it for it to be scrapped and piled in an......
- New Features make Lending on Prosper Better than Ever Prosper.com released a few new features recently. These features might be interesting to all lenders or potential lenders. Here's a run down on some of the new features and how they could affect Prosper's peer-to-peer lending market. Portfolio Plans - Prosper now provides an automated method to bid on set......
-
My Lessons on Buying a Car. This post was originally written at the start of 2009, but has been lost on my PC until now, so I thought I'd share with you now. My wife and I just bought a new minivan, and I thought I'd share some of the lessons I learned along the way....... -
Peer To Peer Lending: Lend Money And Invest A while back, I covered the world of social lending, when I was relatively new to the whole peer to peer lending premise. Now that I’ve become much more familiar with it, and have had some time to see how things operate in this field, I’ve decided to review......
- Get the Best Deal When Refinancing Or Getting an Auto Loan Currently only 3% of Americans actually pay cash for their vehicles, everyone else gets financing of some sort, whether it be a lease, a traditional auto loan through a bank, or financing through the dealer. Itâs always best to pay cash if you can afford to do so, but if......
Categories:
Prosper.com, Strategy
Tags:
9 comments ↓
I’ve gone to funding autofunding loans for the time being as well. I was tired of being outbid in the last 5 minutes of a loan.
I have to agree with the Warrior. In the loans that are not auto-funding, I find myself waiting for other people to bid and then I’ll only get in at the last minute. Getting sniped at the last minute and having to wait another few days you make a loan is not a lot of fun.
Do people use bidding services as they do with ebay? If so, likely you would be outbid. Even using a bidding service, I was outbid, so now I just watch and decide as I go re ebay. Autofunding loans sound a lot easier.
I am autofunding all the way… I hardly even look at non autofunding even manually as the effort required to get a good loan is way to high… I think someone stole my identity as I am the original lazy man.
The Real Secrets To Refinance a Home Loan…
The Australian home loan market is likely to have a hike in its value by almost double by 30 years from now….
automatic funding will get you the loan you wanted.
Proper looks like a good idea im currently tryin to get a long to pay the remaining balance on my car. I ran into a little trouble and need 2 pay off my 5 payments because the lender want there money now if i had it i would pay it off. It would take me about 4 weeks but they are really on my butt about it
my is Listing #312377) if anyone wanna check it out and help
Prosper seems to be a great alternative. I was trying for a loan at a D rating when their were capped interest rates at 17% in the state I live in (Kansas). Im glad that has been done away with. Im currently trying to pay a few cards off now but really just establishing myself as a good borrower. My is Listing #314382 if anyone wanna help.
Leave a Comment