Is the rate for my HELoan through Prosper fixed or variable?

The amount you’re eligible to borrow through Prosper is based on how much equity you have in your home, your creditworthiness, your debt-to-income ratio, and your combined loan to value ratio or CLTV. CLTV is your overall mortgage loan debt expressed as a percentage of your home’s fair market value.

For example, if your home is worth $100,000 and you owe $40,000 on your mortgage, then your CLTV is 40%. When you get a HELoan through Prosper, your mortgage and HELoan combined can be worth as much as 95%1 of your home’s fair market value.

Was this helpful?