I am closing on my first Island Packet early next week. I shopped around for a loan and found essex creddit the easiest to work with. The boat i am purchasing is a 1986 IP31. Due to its age they required 30% down but my intrest rate was only around 5.5% on a 15 year note. They also required an out of water survey, proof of insurance, a copy of your driving license and the location where your vessel will be kept. The process was mostly painless and has taken about 3 weeks.
Hope this helps
