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Old 05-19-2023, 06:50 PM   #3
City: Centreville MD
Vessel Name: Resilient
Vessel Model: Helmsman Trawlers 38E
Join Date: Dec 2020
Posts: 1,413
Looking in forums or social media is a natural first start, but it won't take you far. kthoennes used his local credit union but each and every one will be different. What matters on that avenue is the ones near you, so you just have to ask yours.

Ask the questions and research, but don't waste too much time doing it. Instead you are just going to have to commit the time to dig out a lot of sources and make the phone call to ask. Local banks. Lots of specialized boat lenders with an online presence you can find. Just make the lists, get the numbers and go down the list and call. There are no short cuts. It would not be shocking if you have to try a dozen on that age of boat. Count your blessings if its less.

I will second the comment above. Your notion of loan to value and theirs may well differ and differ substantially because their opinion of value can be very different than your purchase price. Since you have some room this should be surmountable.

Good luck.

Edited to add: if you buy via a broker, the broker will likely know what lender is likely to make the loan.
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