Pre-Qualifying for a Boat Loan
and Marine Lenders
WHAT IS PRE-QUALIFICATION?
This is actually the first step in applying for a boat loan. Please understand that Lenders are very eager to pre-qualify a Buyer. The process is FREE, EASY and FAST. Your loan representative will guide you through the entire process and it can all be done via phone and fax. Contact your favorite lender or perhaps select from the list provided below.
HOW DOES PRE-QUALIFYING HELP ME?
(1) By being pre-qualified for a loan, you will know exactly what boat you can afford to purchase.
(2) When you ultimately make an offer on the boat of your dreams, the Seller will look at your offer as if it were similar to an all cash offer. This is especially important when there are multiple offers on a boat. Your offer will be far more attractive than an offer with a contingency that requires the Buyer to obtain financing.
(3) All too often we observe Buyers doing it all backwards. They find the boat of their dreams and make an offer subject to obtaining financing, and then one of two things often occur. Either their offer is rejected in favor of an offer that is not subject to financing or, perhaps even worse, the Buyer finds out from their lender that they do not qualify for enough to purchase their dreamboat and they are devastated.
* This list is provided as a courtesy only, and does not constitute
any recommendation by Corinthian Yacht & Ship Brokers.
- Beacon Marine Credit
- Dimen Marine Financial
- Essex Credit Corp.
(866) 377-3948 ext 47008
- E-Trade Financial, Formerly Ganis Credit Corp.
- Intercoastal Financial Group
- Newcoast Financial Services
- Scott Financial Services
- Seacoast Marine Finance
- Sterling Acceptance Corp.
- Trident Funding Corp.