commandersander

iTrader: (8)

It really is a good option....

You are writing off interest AND you can also use the depreciation as a writ off if it has a head and galley....

WakezoneINS

IF you have a US Bank Branch in your state then you can try my cousin....

Jamie Jeka
Personal Banker
US Bank
PH 920 424 4194
[email protected]

T-RAV

iTrader: (1)

Why you holding out on everyone!!!

POWERPLAY J

Not holding out. I am not in the boat loan or advertising business. I clearly stated I would pass the info on through PM if someone was interested. In fact I just got off the phone with the loan agent about my refi.

4bus

iTrader: (4)

CU, Key Bank, or US bank FIRST, even BOA if the boat is new enough. Stacy's contact Jamie at US bank is wonderful, if you live in a state that they have a location in.

You still haven't stated what you are looking to buy, that is a major factor.

A few things to keep in mind financing a boat today. 2 years of tax returns will be expected, and many will verify what you give them by running a 4056T with the IRS, if you have deductions the bank will count those deductions against your income.

Second is some banks (like mine) will want notary verification of drive and engine serial numbers, along with a complete survey to be performed before final approval. Processing a boat loan today can take as long as 4 weeks, sellers should be aware of that.

My bank also had me sign a statement saying if the boat was repoed less engines and drives that I would be automatically be admitting guilt to fraud, which can not be filed away on a bankruptcy, like many did just a few years ago.

I keep hearing people state how high their credit score is, the people that defaulted on all these loans in the past 8 years once had high credit scores too! A 800 credit score will allow you to finance a $90k escalade in about 5 mins with no income check, however for boats, HELOC and homes its going to take time. If you self employed and tell the gov't you make $18k but the bank that you make $200k...those days are over too.

Be persistent, chances are if you really are qualified there is a bank out there for you.

4bus

iTrader: (4)

In their defense, maybe they got tired of hearing the crying? Its been a while and you are still at it! You bought a second home which is great, but imagine if you frequented a home site and found the same guy on there soap boxing about banks not giving home loans for years....after a while you may start to get a little frustrated as well. You should change your screen name to "twohousekevin95"

(I hope you know I am just poking fun lol )



You can't blame it all on the banks, again today it is more than a credit score. In the past they went on credit score only, and look at the mess

36Envision

USBank will lend. I just got a 4.4% quote from a local CU on my 1995 525 EFI 38' Top Gun. PLUS, they offer 1% cash back on the original balance after 3 payments made on time. No fees to close. Look around, you can find fair deals.

sonickevin95

4bus..... I don't take your comment personally. But I wasn't the one that started the thread. Just chimed in with my personal experience and frustration with the process. At this momment performance boating is on the back of my mind due to the 5 day old downstairs. The way I look at it is the longer I wait the longer and faster the boat is gonna be when I make my move! Most of these banks including us bank I tried. Essex was the bank that told me they stopped doing them in md because of like 60 repo boats in just a small area of md.

GO4BROKE

iTrader: (1)

http://www.newcoast.com/

I have used them a couple times.

TahoeRick

Contact Rick at Maxxedoutmarine in lake Havasu. He said if you have good credit he can get you a loan - no questions on power either! He also sells tons of performance boats.