Like Tree0Likes

Stated income boat loans????

Reply
Old 01-31-2002, 08:58 AM
  #1
Registered
Thread Starter
Trade Score: (1)
 
Biggus's Avatar
 
Join Date: Apr 2001
Location: Naples, Maine
My Boats: 02 Cigarette Mystique T/S
Posts: 6,298
Post Stated income boat loans????

I am in the process of trying to buy a used Top Gun, our credit is spotless but a good portion of our income is tough to verify. I`m no banker and I was wondering if anyone can help us.

Thanks, Kurt.
Biggus is offline  
Reply With Quote
Old 01-31-2002, 09:23 AM
  #2
Registered
 
Crazyhorse's Avatar
 
Join Date: Jan 2001
Location: Holland MI
My Boats: 38 Cigarette flat-deck
Posts: 3,140
Post

The banker will probably ask for previous years' tax returns and possibly some bank statements. It shouldn't be a big deal.
Crazyhorse is offline  
Reply With Quote
Old 01-31-2002, 09:26 AM
  #3
Charter Member #232
Charter Member
 
Audiofn's Avatar
 
Join Date: Oct 2000
Location: Carlisle, MA USA
My Boats: 1979 Formula 302, 99 Formula 353, 81 Donzi 18 2+3 with 454
Posts: 18,379
Post

Kurto I am crossing my fingures for you my man My credit was all screwed up as I have never pulled my credit report. Come to find out that I own a house and all kinds of other BS. Go pull your credit report just to make sure your credit is as good as you think. My father pulls his every other month to make sure that no one screws up at those places. Now I have tons of work to do to clean up my credit because some never graduated from high school bone head made a wrong entry!!!! Good luck my man. We could use that ride for LOTO LOTO LOTO LOTO
__________________
Put your best foot forward!
Audiofn is offline  
Reply With Quote
Old 01-31-2002, 11:09 AM
  #4
Eric1969
Guest
 
Posts: n/a
Post

Kurt-
My wife and I just built a new home and I had the same dilemma. About 65-70% of my income is commission. I just thought of something, you said tough to verify, I don't know what that means unless you do alot of work for cash.

They will look at your w-2s and check stubs. What does tough to verify mean?
 
Reply With Quote
Old 01-31-2002, 11:51 AM
  #5
Registered
 
Brad Zastrow's Avatar
 
Join Date: Jun 2001
Location: McHenry, Illinois
Posts: 2,244
Post

No Document home loans are easy with large down payments. But boat loans will most likely need proof of income with the typical ratios of total debt to income. May want to look into a home equity loan instead.
Brad Zastrow is offline  
Reply With Quote
Old 01-31-2002, 12:51 PM
  #6
Registered
Thread Starter
Trade Score: (1)
 
Biggus's Avatar
 
Join Date: Apr 2001
Location: Naples, Maine
My Boats: 02 Cigarette Mystique T/S
Posts: 6,298
Thumbs up

Thanks for the input guys!
We are probably going to a home equity loan.

Sy, I got your email. Thank you,Kurt.

and if this can happen I`ll give you a call for the insurance
Biggus is offline  
Reply With Quote
Old 01-31-2002, 01:04 PM
  #7
JIM H
Charter Member
 
JIM H's Avatar
 
Join Date: Oct 2000
Location: Amityville,N.Y.
Posts: 381
Thumbs up

essex credit has a no income check loan under 100k
JIM H is offline  
Reply With Quote
Reply

Related Topics
Thread
Thread Starter
Forum
Replies
Last Post
ENFORCER24
Insurance and Finance
42
12-06-2007 12:34 AM
chewy1955
Cigarette
6
08-09-2005 01:06 PM
29scarab
General Boating Discussion
65
09-18-2002 12:09 AM
Eric1969
Mid Atlantic US
3
04-11-2002 10:04 AM
Eric1969
General Boating Discussion
4
04-09-2002 07:37 PM



Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On



All times are GMT -5. The time now is 04:32 AM.


Copyright 2011 OffShoreOnly. All rights reserved.