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Loans Frequently Asked Questions

Find answers to common questions about personal loans, auto loans, student loans, and more. The experts at First Tech are here to help.

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Yes, closing costs may apply depending on the type of loan and the services involved. At First Tech, we’re committed to transparency and helping you understand what to expect—so you can plan with confidence.

Here’s a general breakdown for Boat Loans:

  • Standard closing costs typically start around $200, depending on the loan type and any value-added services (e.g., title searches, appraisals, or lien filings).
  • Specialty loans, such as those for vessels requiring U.S. Coast Guard documentation may incur higher fees—often around $800.

Tip: Our loan specialists can walk you through the costs specific to your situation and help you explore options that fit your budget.

Flexible terms and competitive rates are available across our loan products—including personal, auto, and student loans—to help you reach your financial goals with minimal friction.

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Yes—First Tech includes sales tax as part of the total purchase price when financing your boat or RV. That means you can roll the tax into your loan, making it easier to manage upfront costs and get on the road (or water) faster.

Tip: Including sales tax in your financing can help preserve your cash flow while still covering all necessary expenses.

Flexible terms and competitive rates are available to support your adventure—whether you're buying a new RV for cross-country travel or a boat for weekend getaways.

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First Tech offers boat loans for a wide range of credit profiles, including those with less-than-perfect credit. We understand that every financial journey is unique, and we’re here to help you move forward. 

Here’s how we support you:

  • Flexible loan options tailored to your situation
  • Competitive rates based on your credit and financial history
  • Personalized guidance from our loan specialists to help you find the best fit

Tip: Applying with a co-borrower or providing a larger down payment may improve your loan terms.

Whether you're buying your first boat or upgrading to something new, our goal is to help you reach your dreams—with financing that works for you.

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Knowing the value of your boat helps you make informed decisions—and we’re here to guide you every step of the way.

To estimate your boat’s value, we recommend using the NADA Guides Boat Value Tool, powered by J.D. Power. It’s a trusted resource that provides up-to-date pricing based on:

  • Make and model
  • Year
  • Features and condition
  • Regional market trends

Tip: Having a clear idea of your boat’s value can help you negotiate confidently and secure the right financing.

First Tech offers flexible boat loan options with competitive rates—designed to help you reach your dreams on the water.

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Getting a boat loan with First Tech is fast, flexible, and designed to help you reach your dreams on the water.

Here’s how to get started:

  1. Apply online or by phone
    • Apply in minutes at firsttechfed.com
    • Or call us at 855.855.8805 to speak with a loan specialist
  2. Check your credit and finances
    • Review your credit score and debt-to-income ratio
    • Determine how much you want to borrow and what fits your budget
  3. Choose your loan terms
    • We offer competitive rates and flexible repayment options
    • Our team will help tailor a loan to match your financial goals

Tip: Pre-qualifying can give you a clearer picture of your buying power and help you shop with confidence.

Whether you're buying a new boat or refinancing an existing one, First Tech is here to support your journey with personalized service and trusted guidance.

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Closing your boat loan with First Tech is designed to be simple, secure, and convenient—no branch visit required.

Here’s what to expect:

  1. Remote closing
    The buyer and seller don’t need to be in the same location or visit a First Tech branch. All paperwork can be completed electronically.
  2. Document review
    Once we receive signed documents from both parties, we’ll begin processing the loan.
  3. Funds disbursement
    • If the boat is currently financed, we’ll send funds directly to the lienholder to pay off the existing loan.
    • If there’s no lien, we’ll issue a check to the seller—typically within 1–2 business days after receiving all required documentation.

Tip: To avoid delays, make sure all paperwork is complete and submitted promptly. Our loan specialists are here to help guide you through each step.

With flexible terms and competitive rates, First Tech makes it easy to finance your next adventure.

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Your loan approval and rate commitment are valid for 30 days from the date of approval.

This gives you time to:

  • Finalize your purchase
  • Submit any required documents
  • Lock in your rate before market conditions change

Tip: If you need more time, reach out to your loan specialist. We may be able to extend your approval or help you reapply with updated terms.

At First Tech, we offer competitive rates and flexible terms to help you move forward with confidence—whether you're financing a car, boat, RV, or personal expense.

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In most cases, you’ll receive a decision immediately or within one business day—depending on the loan amount, your credit profile, and the type of loan you're applying for.

We work quickly to review:

  • Your credit history
  • Your debt-to-income ratio
  • The loan amount and purpose

Tip: To speed up the process, have your income details, identification, and any supporting documents ready when you apply.

Whether you're financing a car, boat, RV, or personal expense, First Tech is here to help you move forward—fast.

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Boat insurance helps protect your investment and gives you peace of mind while you're out on the water. Most policies include:

  • Liability coverage – Protects you if you're responsible for damage or injury
  • Uninsured boater coverage – Covers you if another boater doesn’t have insurance
  • Medical payments – Helps pay for medical expenses after an accident
  • Comprehensive and collision – Covers damage from accidents, theft, fire, or weather

You can also add optional coverage for:

  • Personal effects – Items like clothing, electronics, or fishing gear
  • Special equipment – Navigation systems, trailers, or custom accessories
  • Wreckage removal – Cleanup costs if your boat is damaged or sunk
  • On-water towing – Emergency assistance if your boat breaks down

Tip: Every boat and boater is different. Our team can help you customize a policy that fits your lifestyle and budget.

Get a no-obligation quote through First Tech Insurance Services and explore coverage options that keep you protected.

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Applying for a boat loan is simple—and we’re here to help you every step of the way.

To get started, you’ll need to provide:

Basic Information

  • Your name, address, and contact details
  • Employment and income information
  • Social Security number for credit review

Boat Details

  • Make, model, and year of the boat
  • Purchase price or refinance amount
  • Seller or dealer information

Supporting Documents (may be requested during underwriting)

  • Proof of income (e.g., pay stubs or tax returns)
  • Sales contract or purchase agreement
  • Marine survey report (for certain vessels or loan amounts)

Tip: Having these documents ready can help speed up the approval process and get you on the water faster.

First Tech offers competitive rates, flexible terms, and personalized support to help you finance your next adventure with confidence.

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At First Tech, we offer loan terms up to 15 years (180 months) for qualified boat and RV purchases. Longer terms can help lower your monthly payments and make financing more manageable—so you can focus on enjoying the journey ahead.

Tip: Choosing the right term depends on your budget, the age of the vehicle, and your long-term financial goals. Our loan specialists can help you find the best fit.

With competitive rates, flexible terms, and personalized support, First Tech makes it easy to finance your next adventure.

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We finance boats that are up to 10 model years old. Whether you're purchasing or refinancing, we offer flexible terms and competitive rates to help you get out on the water with confidence.

Here’s how rates are typically adjusted based on the boat’s age:

  • Used Boat (2–5 model years old)
    Add 0.50% to the advertised new boat loan rate
  • Older Used Boat (6–10 model years old)
    Add 1.00% to the advertised new boat loan rate

Tip: If you're considering an older vessel, a marine survey may be required to confirm its condition and value. Our loan specialists can guide you through the process.

First Tech offers personalized support and flexible financing options to help you reach your boating goals—no matter the age of your vessel.

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Yes—closing costs may apply, depending on the type of loan and the services involved. At First Tech, we’re committed to transparency, so you know what to expect before you sign.

Here’s a general breakdown:

  • Minimum closing costs start around $200
  • Costs may increase based on value-added services, such as title searches, lien filings, or documentation support
  • For specialty loans (e.g., vessels requiring U.S. Coast Guard documentation), fees may be higher—typically around $800

Tip: Our loan specialists will walk you through your specific closing costs and help you understand how they fit into your overall financing plan.

 With competitive rates, flexible terms, and clear guidance, First Tech makes it easy to finance your next adventure—whether it’s on land or water.

Helpful Resources

Yes—First Tech includes sales tax in the total amount financed for your boat or RV loan. This means you can roll the tax into your loan, helping you manage upfront costs more easily.

Tip: Including sales tax in your financing can help preserve your cash flow while still covering all necessary expenses.

With competitive rates, flexible terms, and personalized support, First Tech makes it easy to finance your next adventure—whether it’s on land or water.

Helpful Resources

First Tech offers RV loans for a wide range of credit profiles, including those with less-than-perfect credit. We understand that every financial journey is unique, and we’re here to help you move forward.

Here’s how we support you:

  • Flexible loan options tailored to your credit situation
  • Competitive rates based on your financial history
  • Personalized guidance from our loan specialists to help you find the best fit

Tip: Applying with a co-borrower or making a larger down payment may improve your loan terms and approval chances.

Whether you're buying your first RV or upgrading to a new model, First Tech is here to help you hit the road with confidence.

Helpful Resources

To estimate the value of an RV, we recommend using the NADA Guides RV Value Tool powered by J.D. Power. It’s a trusted resource that provides real-time pricing based on:

  • Make, model, and year
  • Features and condition
  • Mileage and usage history
  • Regional market trends

Tip: Knowing your RV’s value helps you negotiate confidently and secure the right financing. It’s also useful for insurance and resale planning.

First Tech offers competitive RV loan rates and flexible terms to help you hit the road with confidence.

Helpful Resources

Closing your loan with First Tech is designed to be simple, secure, and flexible—no branch visit required.

Here’s how it works:

  1. Remote closing
    The buyer and seller do not need to be in the same location or visit a First Tech branch. All documents can be signed and submitted electronically.
  2. Document review
    Once we receive completed paperwork from both parties, we begin processing the loan.
  3. Funds disbursement
    • If the boat or RV is currently financed, we’ll send funds directly to the lienholder to pay off the existing loan.
    • If there’s no lien, we’ll issue a check to the seller, typically within 1–2 business days after receiving all required documentation.

Tip: To avoid delays, make sure all paperwork is complete and submitted promptly. Our loan specialists are here to guide you through every step.

With competitive rates, flexible terms, and a streamlined closing process, First Tech makes it easy to finance your next adventure.

Helpful Resources

Your loan approval and rate are locked in for 30 days from the date of approval. That means you have a full month to finalize your loan with confidence—knowing your rate won’t change during that time.

Whether you're financing a car, covering personal expenses, or investing in your education, our flexible terms and competitive rates are designed to help you move forward with ease and reach your goals.

Need more time or have questions? We're here to help. Connect with us anytime through Online Banking, visit a branch, or call us at 855.855.8805.

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We know timing matters—especially when you're planning something big. That’s why most loan decisions are made instantly or within one business day, depending on the loan amount and your credit profile.

Whether you're applying for a personal, auto, or student loan, we work quickly to help you move forward with confidence. Our streamlined process, flexible terms, and competitive rates are designed to support your goals and help you reach your dreams—without the wait.

 

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RV insurance goes beyond standard auto coverage to protect your home-on-wheels—whether you're on the road or parked at your favorite getaway.

A typical RV policy includes:

  • Liability Coverage – Helps protect you if you're responsible for an accident.
  • Uninsured Motorist Coverage – Covers you if the other driver doesn’t have insurance.
  • Medical Payments – Helps with medical costs for you and your passengers.
  • Comprehensive & Collision – Covers damage from accidents, theft, weather, and more.

You can also add extra protection tailored to your lifestyle:

  • Personal Effects Coverage – Protects belongings inside your RV.
  • Roadside Assistance – Help when you need it most.
  • Vacation Liability – Coverage while your RV is parked and used as a residence.
  • Custom Equipment Coverage – Protects upgrades like solar panels or satellite systems.

We make it easy to find the right coverage for your journey. Get a no-obligation quote through First Tech Insurance Services.

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