2020 refi suggestions

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.

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

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.

Mrwesson said:

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.

Click to expand...

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.

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

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."

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

(see new post)

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...