JJONES

Im doing some home work before I apply for a boat loan and was looking for so input on oso!
I am looking to spend around 150k on a boat and am putting 100k down!My score is 700 plus on all three institutions so I dont think getting approved will be a problem but what im trying to find out is what do the banks ask for as far as docs?
Is it similar to buying a house or a car?Do they ask for tax returns,bank statements,pay stubs,or can these type of loans be stated income?
I guess once I get approved,these kind of issues might come up and I want to have everything in order and be completely prepared!
Thanks for the help!

jmeng

For a loan amount of 50K I'd think you could get away with stated income. Call Dave P at Essex, he can walk you through everything.

Loan Ranger

Single page application is all you will need. With good scores, you can go stated income up to $350,000 (depending on the collateral). Give me a call if you have any questions.
Kyle

JJONES

Thanks guys for the info,when everything lines up,ill let you know!