pretty simple question
as i'm slowly watching my credit rise thru the mid-600's the economy has to take a dump on my dreams of a 10 year note on 30 grand , with 10 or 15 percent down
is anyone still doing this type of deal?
as i watch the news and the markets rise and fall , am i looking at months before banks relax , or years? or decades?
i've looked at my own bank , but they wont touch anything over 60 months , BBT has a program for 5 years (lendmark , sub company of BBT) , i used to have 50 grand in equity in my house , but we all know whats happened to that
i have disposable income , and am in a buiseness that is recession proof (auto salvage) , if save up to pay cash for the boat of my dreams (current dreams) , i'll go crazy
anyone know any loan sharks that have 10 year plans? lol

You might get lucky via a boat manufacturer connected finance company. Besides that you might find it difficult to get financing and\or get reamed on the APR.

My lady might

Ask for Julie at Citizens Community Federal and reference my name Brian Bobb..dont know what the interest rate will be but give her a try
she can be reached at 651-578-0509

thanks guys , as i get closer to pulling the trigger i'm gonna be calling alot of people , with the loan amount i'm not super worried about rate , the difference between 8 and 12 percent is only 35-40 bucks a month , its the term that i'm worried about , i can budget 300-350 a month , not 550-600

Julie should be able to get ya 10yrs

I looked at the website for them , looks like a local bank , are you sure they lend to people half way across the country ?

Whatever you do don't make applicaton at 10 places. Each one that pulls credit will hurt your credit score a few points and if you don't have high scores to begin this may hurt your chances further.

Maybe you need to meet your bank half way. If you put $10K down and finance for 5 years your going to be under $400 a month for payments. With the economy maybe the boat will be cheaper in the spring, credit score a little higher and a few more $$ down. If you can get to a $18K loan you'd be within you numbers on 5 years.

Plus, the more down the less the bank will look at your credit score. Also maybe the bank will go 6 or 7 year with a 5 year balloon. All things you may look into.

Not if she is a good lender. No slam on your credit but community lenders have no business going out of market and their regulators will slam them for it.

Also 10 year ams are not good for either you or the bank on that type of purchase. You don't see folks doing 10 year loans on cars and their is a good reason for that. And boats...even worse.

You need to get that credit score over 700 and have enough disposable income to handle an am of 84 months and under. Then lot's of banks will do it.

Banks are open for business all day long and wanting to lend money.

+1

Call Bernake, That idiot will give money to anyone!