2020 refi suggestions

[Stickman]

Since interest rates down, we’ve considered a re-fi of boat loan ( vs pay down)
Any banks or other loan entities to suggest based on positive experience?

Thanks in advance.

 

[JeremiahM]

Sandy,

We had very good experience with Boat Loans, RV Loans, Marine Lending, Marine Insurance

They work with anyone regardless of location. Call me if you need more info.

-Jeremiah

 

[Mrwesson]

Backlog means they have hundreds of thousands of applications to handle right now. Not saying you cant but good luck.

I was interested for my mortgage and was told to pound sand because of the backlog.

 

[Shrew]

Backlog means they have hundreds of thousands of applications to handle right now. Not saying you cant but good luck.

I was interested for my mortgage and was told to pound sand because of the backlog.

I've been hearing that a lot of banks are currently at or reaching capacity to process loan applications. Meaning that based on staffing numbers, there is up to a 1 year backlog to process refinance applications. Of course, I'm sure they're prioritizing new loan applications.

This is leading the banks to be a bit more choosy in the qualification requirements as well. They have little incentive to go on a hiring spree to increase the overhead in human capital in a effort to drive DOWN revenue.

 

[Jeff F]

Banks may be concerned about balance sheet and liquidity. Don't expect BAU.

 

[Oldersalt]

We are doing a home mortgage re-fi right now with Rocket Mortgage. Easy Peasy.
Oldersalt

"Everything on your boat is broken. You just don't know it yet."

 

[Stickman]

Thanks to all.
My original bank is willing to re-if, including fees waiver.
Requires an In water survey .

(see new post)

 

[Scottwb96]

We had really good luck (believe it or not) with Key Bank. We did a $0 down, 15 year loan. They actually beat all the credit unions and even USAA on rates and down payment requirements...