You may already know that a home equity line of credit (HELOC) may be one of the smartest ways to fund significant home repairs, pay for education costs or consolidate outstanding high-interest debt into a single loan at a lower interest rate. But how much equity do you need for a HELOC? In this post, […]
Prosper Blog
Wondering How Much Equity You Have? Try Our Home Equity Loan Calculator
You’ve worked hard to build equity in your home, but just how much is your investment worth? Our home equity loan calculator gives you a free and instant estimate of just how much money — aka equity — you’ve built into your home! There are two main financial tools which allow borrowers to generate funds […]
Prosper Performance Update – May 2021
Today we are sharing performance data from the Prosper Portfolio for May 2021. Highlights from the report include: In May, approximately 78% of originations were rated AA-B. The average loan size was ~$13K and average borrower income was ~$107K in May, both remaining relatively stable month-over-month. The median monthly payment on Prosper loan to Income […]
What Is a Personal Loan? Here’s Everything You Need to Know
As you explore different financial borrowing options, you may find yourself asking, “What is a personal loan?” For more than a decade now, personal loans nationwide have been growing in popularity, with Experian reporting 38.4 million personal loan accounts in late 2019. Once considered a last option for getting out of debt, today people are […]
The 8 Best HELOC Uses Beyond Home Improvements
Paying for home improvements is the most popular reason people apply for a HELOC. Yet there are a myriad of ways to use a home equity line of credit. (Unsure what a home equity line of credit is? Read our post on what a HELOC is and how it works.) Let’s take a look at […]
What Is a Property Lien? What You Should Know About HELOC Liens
A ‘lien’ can seem like one of the scarier words, and concepts, in the financial world, but what is a property lien exactly? Chances are, that’s not the only question you have about liens. You likely also want to know how a lien works, whether it’s something you need to worry about when borrowing, if […]
