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Boat loan help #12902331 09/17/18 05:54 PM
Joined: Aug 2018
Posts: 17
C
Crestlinerpt20 Offline OP
Green Horn
OP Offline
Green Horn
C
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?

Re: Boat loan help [Re: Crestlinerpt20] #12902438 09/17/18 07:32 PM
Joined: Apr 2017
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tmd11111 Offline
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Joined: Apr 2017
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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.

Re: Boat loan help [Re: Crestlinerpt20] #12903052 09/18/18 12:20 PM
Joined: Oct 2010
Posts: 395
RecLending.com Offline
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
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