Loan amount
$40,000
Loan type
As-Is Property Value
$200,000
LTV
20%
{LTV}
Property type
Sailboat
Borrower Details
Credit score
550
Deal experience
1 deal
This loan scenario was submitted by a Broker
Property Details
State
Washington
Loan Details
Additional Loan Information
I own the boat free and clear. Current value $76K. Almost completed with the project. She was built in mid-1938. English oak rips and teak everywhere. Mahogany interior and a lot of old timeless pieces. Sails are all in order, so is the rigging, deck is 90% completed as well as the cockpit. The mast is the original wooden mast as well as the boom. I still need to remove the engine, sell it, and replace with a custom built electric engine. ARV $200K. The brokerage office in the port town close to mine would list it and sell it here in this area, a large wooden boat community.
Status
Closed
Created
January 21, 2020 - 11:00am
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