Seattle Metropolitan Credit Union has suspended Houseboat lending stating they are “at our policy concentration limit”.
Very dissapointing news!
In addition they state “Floating home loan program will continue to be offered with 15 year and 20 year fixed rate/term offerings. We will no longer offer the 30 year amortization with 15 year balloon product.” Additionally SMCU states they are approacing their concentration limit on some docks which might limit somefinancing options. Thinking of Lake Union Living, contact us. As liveaboards on the lake and as “The Lake Specialist”, we look forward to making your dream happen.
If you are thinking of buying a floating home you may be looking at a different lender, however if you were wanting to buy a houseboat it is cash, seller carried contract or hang tight until we locate another lender.
Lake Union living is amazing! Special Agents Realty sold through all our listing inventory for 2012, however looking forward to 2013 and having better choices. We may have a couple amazing houseboats coming, so always check in with us.
Floating homes are expected to have an amazing year in 2013 and we need listings for floating homes. I have buyer’s, I need listings.