I have a few questions that I have not been able to locate answers to so I hope you can help.
Is there a huge difference in loan options out there on used cats? I am trying to research
lending options so I can get us pre-qualified prior to making an offer. I know about home mortgages and all of those options but not about large boats. We will need to finance the boat while we are still working to retirement
and the tax deduction will help being a second home. Once the current
home sells we will pay down the note if not pay it in full. We are members of USAA and I see that they finance bigger boats and I think someone here had suggested Navy
Fed but I am not a member
there. We will have up to 20% down but would rather not tap all the reserves. Our credit portfolio is strong so should not be an issue and out DTI is a non issue. We are guessing the boat will be 1995 or newer and it will have to be kept in a marina until we are ready for full time.
So I guess the questions are ,
Is there a bunch of loan producs to decide between?
Is ther a lender better than others we should research
Given the above do you see any issues I may run into?