Bellingham Yachts In-House Financing
Bellingham Yachts Is Proud to Offer In-House Financing
In order to give our customers world class service and help make buying a boat an enjoyable and seamless experience we are proud to offer In-House financing here at Bellingham Yachts. Our very own CFO Heather Ouilette makes the financing process personal to each and every customers specific situation and utilizes her professional experience to secure the best rate and terms feasible through our National Marine Lenders Association (NMLA) financial lenders. We base our business on trust and transparency and have carried that through to our financing program. If the rates and terms offered do not suit your needs we are happy to help facilitate your inquiry with another marine lender. We want to ensure that you get the best rate and terms based on your specific wants and needs.
Handling your boat purchase from start to finish (from Application to working with the Title Company to Title and Document your boat to Loan Closing) making it so that you can spend time preparing to go out and enjoy your new boat and less time dealing with the paperwork and details involved in the financing process!
Below is an outline of what financing with us looks like:
• Application: There is a simple one page application that requires your personal data as well as information regarding your home ownership (if applicable) and all monthly debt service. Income verification is often required, depending upon the size of the loan request, and you will probably be asked to provide copies of tax returns for the past two years, a financial statement and sometimes statements showing your liquid assets. All of this information is necessary to provide the best loan decision possible.
• Loan Underwriting/Decision: The boat loan decision process is quite straightforward and decisions are typically received in 1-2 business days. The lender will examine you and the boat. Your credit history will be reviewed as well as your debt to income ratio. The lender will also look at the boat to verify the selling price is comparable to a realistic market value. Once everything has been reviewed the rate and terms will be offered. The lender will request a survey (depending upon age, size, value of boat) as well as require the boat be insured prior to closing.
• Loan Closing and Funding: The last and final piece of the financing process is the signing of the loan documents. These documents are prepared by Heather in our office and will be presented and explained thoroughly at time of signing. Within 48 hours of receiving the signed documents the funds are dispersed and the beautiful new boat is YOURS!
With the 2019 Seattle Boat Show underway and an exceptional .25% boat show promotion, rates are as low as 4.99% for $100,000+ at 20 year terms. Now is a great time to take advantage of these low rates! We would love to help you with any financing questions you may have or if you’re ready to proceed with purchasing your new boat we are happy to guide you through the loan process step by step!
Please contact firstname.lastname@example.org or call us at 360-671-0990 for any inquires.
*Note: rates and terms may change and are subject to credit approval. Actual rate and payment may vary depending upon borrowers credit history. Maximum finance amount is $1,000,000. Evidence of insurance and Coast Guard documentation is often required