Recent Trends in Boat and RV Loans
In the last eighteen months or so, not only have rates crept up but lenders are looking much more closely at "loan to value" - the percentage that compares the amount of a loan to the value of the financed collateral.
The days of no money down, long term loans seem to be over. Lenders like to share risk and they often times give a break to the buyer who has some skin in the game. This change is not only beneficial for the lenders, but it truly is better for the buyer as well. Having some equity in your purchase from day one really helps down the road when it comes time to sell or trade your unit.
Loans today are about much more than just a borrowers credit score. What you are buying and for how much matters.
Contact us today if you would like to learn more or see what programs you might qualify for!
Jireh Financial
(517) 888-0406
info@jirehfinancial.com