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proposed+loan+program+summary

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									Mortgage Captain, LLC
1245 South Powerline Road, PMB# 322
Pompano Beach, FL 33069




                                Proposed Loan Program Summary

      Profile of the Client/Boater:
       FICO score ranges of 680 to 780.
       Business owners, Business executives, Doctors, Lawyers, Professionals
       High income and verifiable assets.
       May want to finance through a LLC, LLP and “S” Corporations,
         and/or to purchase multiple boat slips for investment purposes.
       Most clients are U.S. Citizens, but I also want to accommodate
         Foreign Nationals, as I have clients from The U.K., France and
         Germany contacting me. All payments would be in U.S. Funds.

      The Boat Slips:
       Located mostly in the U.S., mainly in Florida. However, I have
        marinas contacting me from The Bahamas, Costa Rica and The
        Domincan Republic.
       Boat slips are priced by “per linear foot,” ranging from $2K to
        $9K per foot, depending on location and marina amenities
        Purchase prices range from $40K to $900K+/each and slips may
        be located on the ocean, rivers and inland fresh water lakes.
       Boat slips would be valued by a certified appraiser of your
        choosing, and appraisals must be priced similar to a home
        appraisal (+/- $ 400). A full title search and underwriting process
        would be required, as the slips are considered “real” property.

      The Loan Programs:
       Full doc and low doc programs. Purchase and refinance loans.
       Interest only and ARM options – prepayment and non-pre-
        payment options.
       Interest rates which are similar to home loans (no hard money
        loans). Loan to Value range 80% to 90%.
       Loans secured by the boat slips as a standalone assets, in a first
        lien position – not home equity loan or line of credit.
       15, 20, 25 and 30 year fixed rate programs – no balloon payments.

Lender License MB 0616828
Equal Opportunity Lender                Page 1 of 1
www.mortgagecaptainmarine.com

								
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