We provide services for individuals with a range of credit histories, including those with excellent credit and those who have faced financial difficulties impacting their credit. Rates and terms are subject to change. The Yacht Banker is powered by Newcoast Financial, a leading provider of Marine and RV financing across the country. Through partnerships with 20 different lenders, we are able to offer competitive rates and terms customized to fit your specific situation. Check out the summary of our current financing options below.
RATES SUBJECT TO CHANGE WITHOUT NOTICE
Rates are not the only factor to consider in a loan. You should also consider the down payment required and the length of the loan. Lower rates may be available with a variable rates loan which is fixed for 5 years but the challenge is not knowing where rates would be at the end of 5 years. Many people who choose this option want a lower payment and have the intention of paying off the loan or refinancing before the 5 year period ends. Careful consideration should be given before selecting a variable rate loan.
RATES FROM 6.24%
The rate below is based on excellent credit and the rate will change based on a lower credit score. Down payment and term will also affect the loan rate.
LOANS FROM $15,000 - $24,999
RATES FROM 7.59%
10 and 15 year terms. Down payments from 10% - 20%. 15% is a typical average down payment.
The rate below is based on excellent credit and the rate will change based on a lower credit score. Down payment and term will also affect the loan rate.
LOANS FROM $25,000 - $49,999
RATES FROM 7.09%
10, 12 and 15 year terms. Down payments from 10% and up. 10% is a good rule of thumb with better rates at 15% and 20% down.
LOANS FROM $50,000 - $150,000
The rate below is based on excellent credit and the rate will change based on a lower credit score. Down payment and term will also affect the loan rate.
RATES FROM 6.99%
10, 12, 15 and 20 year terms. Down payments from 10% and up.
At $50,000 and above many lenders offer a big rate drop. I will help you take advantage of this scenario.
LOANS OVER $150,000
RATES FROM 6.24%
We have lenders that will write up to $300,000 loans with stated income. Other lenders will write up to $200,000 loans with stated income. Typically, once loans exceed $150,000 rates can vary so much it’s difficult to publish them here. THE RATE ABOVE ASSUMES EXCELLENT CREDIT AND WILL VARY BASED ON CREDIT SCORE.
NO MONEY DOWN / FIRST TIME BUYER / LOWER CREDIT SCORES
RATES FROM 10.49%
Up to 20 year terms on loans $35,000 and higher are now possible. Max loan is $200,000 and debt to income ratios as high as 55%. Call and we can discuss your specific situation and how we can help you get that new boat! Call us at 904-742-3080.
At Newcoast Financial, we have options for NO MONEY DOWN and less than perfect credit.
RE-POWER / OUTBOARD FINANCING
RATES FROM 10.99%
Re-Power and Outboard financing is available. Terms up to 10 years and rigging can be included in the financing. Credit scores as low as 580 considered.
IN A NUTSHELL………………………….
The process of financing a boat can be complex, with factors such as credit, down payment, payment history, and loan-to-value all playing a role. This can be overwhelming, but that's where I can help. My job is to analyze all of your information, assess the boat you want to purchase, and find the ideal lender with the best rates to create loan options that will save you money and provide you with the lowest possible payment. We work on your behalf with multiple banks to secure the best financing available. In addition to boats, we also offer RV financing for yachts that prefer to be on the land.
