Financing a Houseboat

by Jay Romano

Houseboat financing and boat loans are sometimes confusing for new or used houseboat buyers. But in reality, there's many boat loan options available for prospective buyers.

I am a columnist for the New York Times and I answer questions from readers. One reader has asked if financing a houseboat is the same as financing a house. Can you answer this for us? The question and answer will be published on the Times internet site.

Thank you, Jay Romano

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Reply - Answer
Well Jay, that's a common question about houseboat financing. Depending on your area, many of the lending institutions will provide a marine mortgage on a new houseboat based on a 20 or 25 year term, much like a house mortgage. The rates are comparable as to a home mortgage.

When it comes to finance a house boat, and if you're buying a used houseboat, you would have to subtract the age of the boat from the 20 or 25 year term. A marine survey would usually be required as one of the requirements.

Houseboat loans and financing options generally follow similar criteria as to personal loan, bridge loans, lines of credit etc... And many folks can take advantage of some tax credits to boot.

For people how are looking to finance a houseboat, you can have a look at our houseboat loans page to better answer your questions. You can also find some names of companies that are financing houseboats.


Lastly, hopefully some of our readers will share and post comments about their houseboat financing tips and experiences. Feel free to use the "Click here to post comments." link found near the bottom of this page.


Thanks again for sharing, IAN from all-about-houseboats

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