Interest rates ?
 

What is the best rate right now for a go fast over 100k 20yrs exc credit

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6.25% I think

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Call Melanie Jolles at Beacon she is awesome I used her last year for a 100K plus loan. I was referred to her from here also a few other guys used her(for loans) :D

http://www.beaconcredit.com/marine/b...lsource=Trader
954-522-7104

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I'm shopping right now for less than 100K for 15yrs. I'm told I can get 6.25 to 6.5 (credit score of 811) I've talked to 5 different companies and they are all just about the same.

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We are at the Miami show showing rates from 6.12% up depending on credit score, amount financed, collateral, etc...If anybody has any specific questions call me on my cel at 727-741-8150. I will be at the show through Monday if anybody wants to meet to discuss any financing questions.
Kyle

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what r u lookin to buy ? :D

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Off the subject here but do you have a link to your 03 Chaparrel for sale?

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Does the credit score make that much differance say form 700 and above ?I wonder were the braking point is?

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If a bank uses credit score to determine rate (risk based pricing) typically 720 or above will give you the best rate. It may vary a little to as low as 700 to as high as 740 but a 800 plus score would not get a rate lower than a 750 score.

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More advice ...lie :drink:

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Russ, what are looking to get? Have you sold your formula,yet.

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So if I had a credit score of 830 and have never had a boat loan above 150k. Could it get aproved?

Rob

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Its all about what your debt to income ratio is every month.. I think 33% is the magic # for trouble free borrowing..

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Im sure if you had the dti ratio it wouldnt be a problem.

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Actually it's more about your credit score, not being the largest amount you have ever borrowed and putting some money down. I've seen 45% D/I approved no problem. If your credit score is 620 and your debt ratio is 20% you will have a lot of problems buy a boat.

780+ used to get you a discount with Key( or a premium to the broker, passing it on to you is another discussion).

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Your right ..my girlfriends a mortgage broker and she was looking at someones paperwork last night ..her score was 475 (pretty low) but she said she was going to qualify for that commercial loan.. Weird business thats for sure.. I have 740 score and less than 10% DTI and i was turned down for a second on my house because I had started my business 8-10 months prior.. The lenders have alot of say in whether you qualify and for what rate etc..
One thing is for sure CASH is still KING

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Key's discount is at 720 so a 810 score or a 750 score makes no difference, they both qualify.

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See you went about that all wrong as newly self employed falls into that "uncertanty" area for lenders..what you ment to ask for was a commercal loan for your new business and you were willing to give a 2nd on you home as collateral....I'm kind of kidding but not really, many consumer departments would balk but commercal lenders may have done it..all depends on who you talk too..also you may have had luck with stated income, however many times there is a restriction that you must prove you have been in business for 2 years...

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Some lenders require prior borrowing experience, some do not worry about it (within reason). With good credit and good affordability a new loan in excess of prior high credit is not normally an issue.

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Yup went the stated income route and got approved ..pretty good rate too I think 1/2 point over prime but I backed out..
I just needed cash for finishing a house project. I ended up doing it out of pocket ..(bologna sandwiches for a while) ooh and maxed out some plastic ..oops :drink:

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475 and is getting a commercial loan???
hmm,, i have a hard time believing that any lender would even consider touching,,
i have been a broker for many yrs and i am wondring what the compensating factors would be for a lender to consider a 475?

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I'm sure you are correct today as I am relating history from about a year ago. In the past they also had more than 1 rate sheet as on occasion I got the wrong one faxed to me.

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I am with Key Bank 5.75

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Im pretty sure they have to relinquish there first born child ..
The company she works for is run by bloodsuckers ..
Shes told me some stories and it doesnt sound like ethics have anything to do with the way they do biz
Sort of like credit card co.s'

Re: Interest rates ?