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Comparable Credit - Comparable credit is the comparison on your current loan request to your prior lending habits. For example, if you are seeking a loan for $500,000, a lender wants to see you have experience making payments on that size loan.
Credit Score - a score based upon your credit history and may be based upon the three leading agencies: Equifax, Experian and Transunion. A score of 750 or higher may automatically qualify you for some lender programs and more aggressive rates. Score alone is only one part of the big picture. Beacon or FICO score are also terms used synonamously with credit score.
Debt to Income Ratio (also known as DTI) - Your debt to income ratio is simply your monthly debts divided by your monthly income. Most lenders prefer this ratio be below 40% including the yacht payment.
Down Payment - Most loans over $150,000 require a minimum of 15% down. Exceptions do apply.
Liquidity - Liquidity is the amount of current assets you have available for expenditures. Current assets include cash, some receivables, annuities and marketable securities. Most lenders prefer to see enough liquidity to cover a minimum of 6 months of monthly debt payments. Retirement or pensions plans will often not be included in these amounts.
Net Worth - Net worth is the difference between the value of your assets less your liabilities. Most lenders look for a net worth of 2 to 3 times the value of the yacht. Many do not include the value of a privately owned business unless there is substantial assets or real estate as the value of any company is very subjective.
Personal Financial Statement - A listing of your assets and liabilities including cash, marketable securities, real estate, credit card and mortgage debt to name a few items.