And I have been boating since 1985. I am a native of coastal NC, and my goal is to help you navigate the marine lending process. Much like the rules of the road, there are a lot of boat loan rules, and the wrong choice can put you in a tight spot! See my reviews HERE
It is my goal to help YOU make the best decision you can. There are a lot of moving parts to financing your dream boat.
Whether you are looking for a boat loan of $10,000 or $5,000,000, we likely have a choice for you. And if I am not the right guy, I will try to point you that way!
We are the largest originator of boat loans and yacht loans in the U.S. with over 2 decades in the marine financing business.
We have highly experienced staff with hundreds of combined years in marine loan origination.
Our online application and file folder system uses state of the art 128 bit encryption. The application is simple to fill out, and usually takes less than 5 minutes. Make sure you let me know how you heard about me please.
Our typical decision time is less than 24 hours.
800+ typically receive the best rates
740 AND UP for better rates
Options for 680 +
This is door number 1 - Credit history is door number 2. ->
Low usage of revolving helpful
Slow pays and charge-offs hurt
Mortgage can NOT be in FORBARENCE
No BK in the last 7 years
Some form of COMPARABLE Installment history (This one catches a lot of people)
SURVEY VALUE has to MEET Purchase price
A Down-payment is always required
10% - 20% Options
$50000 + Usually offered a 20 year term
ie $62,600 purchase less 20% = $50080
Under 50k 15 year
25k and less 12 year
DTI Ratio under 40% including the new payment. Revolving payments calculated at 3% of balance.
Or, pick one of the social links above and send me a message anytime. If you are on The Hull Truth, you can find me as Boat Money
Your Boat Money 561 W CRAFTSMAN WAY Hampstead, NC 28443-0048 US