My family and I have been boating since 1985. We are natives of coastal NC, and my goal is to help you navigate the marine lending process so that you can enjoy the water as much as much as we do! You have a lot of loan choices, But few "banks" truly understand and live boating like I do.
See my reviews HERE
This intro video tells you a little about why I started YourBoatMoney, and where I am headed! It has always been my goal to provide you with the tools and information you need in order to make the best decision possible, EVEN IF IT ISN'T a loan from me!
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 $50,000 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!
The Azure team has over 100 years of combined experience, encompassing every aspect of the marine and lending industries. Our team truly cares about its customers and is committed to providing the best lending experience possible
Our online application is in 2 parts and uses state of the art 128 bit encryption. The first part is simply an email form to get me some basic information on your purchase. The second part is the full application and is simple to fill out, and usually takes less than 5 minutes.
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 almost 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.
PAYMENT to income 14-18%