I want to buy a 1980 38' scarab. I need to get a loan for 35,000.00. Called Comerica ( have a friend that works there) for a loan. I told bank that I make 28,000.00 on paper and only outstanding debt is 450.00/ mo for truck for next 3 years and 200.00/ mo for rent( living with fiance'). I was willing to pay off truck in order to lower my debt to income ratio if needed. Was told by the bank today that they would approve the loan for 15 years for 25,000.00 loaned if I put 10,000.00. their way I would end up paying about 700.00 for next 3 years (450.00 truck and 230.00 boat) untill the truck was paid off, then the only thing I would be paying on is the boat. WHAT I wanted to do was pay off truck and just have boat loan for a loaned amount of 35,000.00. This way I would be paying about 400.00/ mo. I wanted to do this because I think the boss (wife) would be more accepting if we were only paying 400.00 month instead of 700.00.
I need to know if there are any banks out there that will loan approx 75% of the boats loan value on a boat that is 22 years old. The loan value of the boat is about 51,000.00

Thanks for anybodys help