Can you get a mortgage for a boat?
The main option for obtaining a "mortgage" for a boat is by purchasing a house boat or a "floating home". A house boat, from a mortgage perspective, must be stationary so the idea of obtaining what most people would consider a mortgage is not going to happen. What about a moving Houseboat? Another common question. You are able to obtain normal boat financing for a house boat but it usually comes at a cost. House boats are typically expensive and resale takes longer than a normal power boat so bank rates are usually pretty high and large down payments are required. Since the Federal Housing Administration does not support floating homes in their program, you may be looking at a 20% or more down payment on your home. Writing off…