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Author Topic: Loans paid off early. What % for you?

t
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Loans paid off early. What % for you?
OP: March 09, 2012, 12:00:00 AM
Hi,

I put a blob of money in LC last June. After 9 months, over 7% of my notes (combination of 36 & 60 month) have paid off early. Seems like a high percentage. What kinds of rates are others running?
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N
  • Posts: 2
Loans paid off early. What % for you?
#1: March 09, 2012, 12:00:00 AM
I started investing in LC in Sept. 2010.   To date, 11% of my notes paid off early.  I don't need the cash available, so I simply re-invest in new notes.  Initially, I picked A and B notes, but lately, I am investing in lower grade notes to get higher returns.
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T
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Loans paid off early. What % for you?
#2: March 09, 2012, 12:00:00 AM
Looks like I'm running a similar trend. Not really a problem other than the re-investment hassle.
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Loans paid off early. What % for you?
#3: March 11, 2012, 12:00:00 AM
I started in August 2009 and of that initial investment I have had 50% pay off early. I really don't mind this at all because you are getting this high rate of interest for what is in effect a short term loan.
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D
  • Posts: 14
Loans paid off early. What % for you?
#4: March 12, 2012, 11:00:00 PM
Prosper creates an incentive for repeat borrowers by reducing interest rates on the subsequent loans.  I would imagine this creates a peripheral incentive to payoff previous loans early.   Does anybody know if LC offers the same incentive for repeat borrowers?



from: thezinfan on March 09, 2012, 10:46:30 AM
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T
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Loans paid off early. What % for you?
#5: March 17, 2012, 11:00:00 PM
My understanding is that Lending Club gives less weight to previous borrowers. It is just one factor in the entire credit picture - whereas with Prosper you are almost guaranteed a better rate as long as you have paid on time and your credit score is still above 600.

from: DiligentiaLLC on March 13, 2012, 08:21:39 PM
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