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Dec 30th, 2023
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 Boat loan help
#12902331
09/17/18 05:54 PM
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Joined: Aug 2018
Posts: 17
Crestlinerpt20
OP
Green Horn
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OP
Green Horn
Joined: Aug 2018
Posts: 17 |
I am looking to finance and new boat soon. The lender is asking for a home decleration. Is this correct? What would they be needing it for?
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Re: Boat loan help
[Re: Crestlinerpt20]
#12902438
09/17/18 07:32 PM
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Joined: Apr 2017
Posts: 12,149
tmd11111
TFF Guru
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TFF Guru
Joined: Apr 2017
Posts: 12,149 |
I've never had a lender ask for that for any loan I've ever taken. Then again credit rating, debt to income ratio and credit history could be a factor.
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Re: Boat loan help
[Re: Crestlinerpt20]
#12903052
09/18/18 12:20 PM
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Joined: Oct 2010
Posts: 395
RecLending.com
Angler
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Angler
Joined: Oct 2010
Posts: 395 |
A "home declaration" is generally from homeowners insurance. It would outline coverage on your homeowners insurance policy. Not really sure how that relates to a boat loan. Your boat, motor and trailer should be covered on it's own stand alone policy anyway. There is nothing I can think of on your homeowners insurance that would relate to the boat loan.
Let me know if we can help.
Thank you,
Ken
(517) 543-6921 - Office
RecLending
Office (517) 543-6921
Email: Info@Reclending.com
Todd's Cell: 517-294-0459
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