It's an Ever Changing Market

The federal reserve has signaled they will be cautious about reducing rates from present levels if at all. As a result, interest rates are expected to be steady throughout 2024. If your planning a finance purchase now might be the time to move forward. Interest rates will more than likely remain unstable for the near future. In a falling interest rate environment Marine Banking Services can refinance your existing loan balance into a lower rate". If you're confused or need advice on your potential purchase, we can discuss.

Important things to consider besides interest rates

How does Marine Banking Services provide a competitive edge in securing the best loan program for your purchase? We do it by working with marine lenders across the country to find the right lender with the best program for your particular purchase and financial profile. Every applicant is different, and that is why it takes a company with banking and financial experience to properly guide you in the right direction. Our experience spans 34 years, and as the old saying goes, you wouldn't go to a plumber to have your tooth removed, etc. etc. Dealers and brokers know boats, but unfortunately, they aren't bankers. At Marine Banking Services we work for you and attempt to find just the right loan program for your particular purchase and financial ability. In addition, we can make recommendations for marine surveyors, boat insurance specialists, and the Coast Guard documentation process required on larger purchases. With down payments in the 10-20% range for loans from $25,000.00 to $5,000,000.00 as well as terms available up to 20 years, we can guide you to the right program for your purchase.

• Understand and plan through your physical and financial realistic limitations
• Have the right perspective and expectations; don't just follow the crowd
• Understand the lender's ability to work within the financial loan process; all the way through servicing