Quote:
Originally Posted by codeman671
Just talked to a local bank that I have worked with for island financing in the past. I am being told it will be a tough season for those looking to finance. Rates will be high and percentage down will be increased. Loans of less than $350k will now require 25% down and over $350k will be 30% down.
I looked into a refi on a boat slip, they are only offering 50% ltv and 6.11%.
It will be interesting to see what this does for resales.
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Probably need a bigger down payment but rates still very low.
https://www.marketwatch.com/story/mo...oan-2020-04-23