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Highest Echelon

A personal finance blog. Paying for my University, life and eventually achieving financial freedom.

Is 298463% debt to income ratio too much for a loan? On Prosper.com, No Problem!

Thursday, April 26, 2007

I just found this listing on Prosper.com. Salvimex714 wants to borrow $4000 at 29% APR. He has a credit rating of AA (the best Prosper has to offer). What's stopping me from bidding besides the fact that he's unemployed, has no income, no endorsements, and a scary picture? The 298463% Debt to Income Ratio!

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posted by johnwilkx, 10:27 AM

2 Comments:

Lol...I can't even count the number of digits in that 298...% wow!

So the AA rating is not based on the ratio then? Probably the dude borrows and pays back on time (by borrowing from other places (?))...or something like that.
commented by Anonymous Golbguru, Thu Apr 26, 01:56:00 PM 2007  
Personally, I wouldn't sweat the DTI this time. I see this all the time with house-flippers. They're leveraged out of their mind (with secured investments) and they're good with money overall. If the credit rating was bad, I'd be nervous though.
commented by Blogger ProsperLoansOnline.com, Tue May 01, 06:28:00 PM 2007  

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