Asked Questions (FAQs)
have any questions after reviewing this information please
contact one of our representatives toll-free at 1-877-535-8516
or through our web site.
long does it take to complete a boat loan through Gulfstream
Most applicants are approved within 24-48 hours after we receive
the completed application and all accompanying paperwork.
other paperwork do I need in addition to the application?
All applicants will need to submit their past two years 1040
personal tax returns with all schedules including S-Corps
or K-1's. For most loans under $50,000 the last two years
W-2's with recent pay stubs will be sufficient. If you own
a corporation or are part of a partnership, you will need
to submit the past two years corporate or partnership returns
with all schedules in addition to your personal returns.
Gulfstream Marine Finance charge any application or closing
No, we do not charge an application fee. Depending on your
location and the type of boat there may be charges for state
titling or USCG Documentation, survey fees, and marine insurance.
amount of down payment will I be required to put down on the
Down payment amounts will vary from 15%-30% depending on the
amount of money you are borrowing and the term of the loan.
Please call one of our representatives for specific information
toll-free at 1-877-535-8516 or contact
us through our web site.
this loan simple interest and are there any prepayment penalties?
Yes, all of our loans are "simple interest". There is NO prepayment
penalty for paying off your fixed rate loan early, however there may be a prepayment penalty for the variable rate loans. Please contact one of our representatives for more information.
do I apply?
It's easy! You can apply online or we will be happy to fax
or mail you our application/financial statement forms. Simply
complete the form and return it to us with two years of income
verification in the form of your most current 1040's and any
supporting schedules. Most credit decisions can be made in
as little as 24-48 hours.