A new loan funded (paying off taxes – $25,000 at 11.44%). I participated via my standing orders Low Amt (<15K) Mid DTI(<25%) AF (Autofunding) and Low Amt (<15K) High DTI(<40%) AF (Autofunding). The borrower had A credit, a 21% DTI. As a reminder my standing orders (and manual bids) 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 $5,047.15 in principal across 79 loans ($63.89 per loan) with an weighted average interest rate of 17.59% and an account value of $5,387.82. Each loan on average is 1.2% of my portfolio with a maximum in any one loan being 3.7%.
Here is the listing:
For the readers that believe in reading the actual description without modification:
Purpose of loan is to pay off taxes My financial situation: I have been working at the post office for 15 years.
(explain why you are a good candidate for paying back this loan)My monthly budget:
Mortgage/rent: $700
Insurance: $100
Car expenses: $80
Utilities: $0
Phone, cable, internet: $100
Food, entertainment: $100
Clothing, household expenses $20
Credit cards and other loan payments: $400
Other expenses: $0
—————————————
Total monthly expenses: $1500
Here is a graph of all loans on Prosper with A credit and a DTI of < 21% and Loan Amount $14,000 +/-$5,000 funded in the last 100 days:
| Number of Loans | Average Amount Borrowed | Weighted Average | Standard Deviation |
|---|---|---|---|
| 66 | $12,108.32 | 11.67% | 2.66% |
The weighted average plus 1 sigma is 14.33%. The weighted average plus 2 sigma is 16.99%. This loan is between 1 and 2 sigma higher than the mean. I love standing orders.
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