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BOAT LOANS |
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NEW & USED |
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80% Financing - 20% Down Payment |
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FIXED RATE |
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AMOUNT |
RATE |
APR |
TERM |
MONTHLY PAYMENT PER $ 1,000 |
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$100,000 and over |
5.990% |
5.990% |
180 months |
$8.43 |
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$50,000 - $99,999 |
6.500% |
6.500% |
180 months |
$8.71 |
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$15,000 - $49,999 |
7.000% |
7.000% |
180 months |
$8.99 |
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$5,000 - $14,999 |
8.000% |
8.000% |
180 months |
$9.56 |
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VARIABLE RATE
- Minimum Term 13 months |
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AMOUNT |
RATE |
APR |
TERM |
INITIAL MONTHLY
PAYMENT PER $ 1,000 |
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over $10,000 |
4.990% |
4.31%* |
180 months |
$7.90 |
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$10,000 or less |
7.990% |
6.36%** |
60 months |
$20.27 |
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Index is the weekly average yield on U. S. Treasury
Securities adjusted to a constant maturity of one year |
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Margin is 4.00%, Caps are plus or minus 2.00% per
review and plus or minus 8.00% lifetime. |
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Payment may vary after one year. |
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3 YEAR
VARIABLE/REVERTS TO 1 YEAR VARIABLE IN THE 4TH YEAR |
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AMOUNT |
RATE |
APR |
TERM |
INITIAL MONTHLY
PAYMENT PER $ 1,000 |
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over $10,000 |
5.500% |
4.73%* |
180 months |
$8.17 |
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$10,000 or less |
8.125% |
8.1%** |
60 months |
$20.34 |
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Index is the weekly average yeild on U.S. Treasury
Securities adjusted to a constant maturity of one year |
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Margin is 4.00%, Caps are plus or minus 2.00% per
review and plus or minus 8.00% lifetime. |
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Payment may vary after three years. |
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*APR assumes
20% down payment and is based on a loan amount of $25,000.00. |
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**APR assumes
20% down payment and is based on a loan amount of $10,000.00. |
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Vendor Single Interest (VSI) coverage is required
which costs $31.00 per boat up to a loan of $75,000.00. |
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Coverage is for a maximum term of 180 months. |
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Documentation is required on boats 26 feet or longer
at a cost of between $400.00. |
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Survey is required by a certified surveyor on boats
24 feet or longer and more than 2 years old. |
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No high performance boat financing available. |
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ALL RATES, TERMS AND CONDITIONS SUBJECT TO CHANGE. |
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SUBJECT TO CREDIT APPROVAL |
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| Member FDIC.
Equal Housing Lender. www.chelseagroton.com
Rates effective 01/20/2012 |
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