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Length of Boat Loans

Fixed rate boat loan terms are available from 10, 15, 20 years, the terms available are based on the amount you are looking to borrow. The rate of your boat loan is determined by many key factors outside of your credit score. (more…)

The what, why and how of credit scores!

The what, why and how of credit scores, especially concerning boat loans: a person’s credit score (commonly known as FICO score) is a statistical analysis of a person’s credit file, which represents the creditworthiness of that person. A credit score is primarily based on information typically sourced from the three major credit bureaus including the payment history, amount of actual credit lines, the ratio of actual usage of credit lines, credit inquiries and collection/bankruptcy information. In the United States, FICO risk scores range from 300-850, with 723 being the median FICO score of Americans in 2010. (more…)

The what, why and how of credit scores!

The what, why and how of credit scores, especially concerning boat loans: a person’s credit score (commonly known as FICO score) is a statistical analysis of a person’s credit file, which represents the creditworthiness of that person. A credit score is primarily based on information typically sourced from the three major credit bureaus including the payment history, amount of actual credit lines, the ratio of actual usage of credit lines, credit inquiries and collection/bankruptcy information. In the United States, FICO risk scores range from 300-850, with 723 being the median FICO score of Americans in 2010. (more…)

Boat Loan Rates

Boat loan rates: is it time to refinance your existing boat or sell your existing boat and take advantage of the low boat loan interest rate environment? This is a difficult decision since nobody really knows where interest rates will go over the next few years given to economic turmoil and upcoming election. (more…)

Boat Loan Terms

Boat loan term: we are frequently asked whether there is a correlation between the term of the boat loan (typically 15 or 20 years) and the actual expected life of the boat loan. There has been much research done on this subject by the National Marine Bankers Association and the actual life of the average marine loan is between 36 months and 72 months. (more…)

Effective Interest Rate on Boat Loans

Effective Interest Rate: Interest rates on boat loans are at historical lows and many customers with boat loans can deduct the interest they pay on their boat loans on their tax returns, effectively reducing the amount of actual out of pocket interest expense. For more information on the deductibility of your interest paid on boat loans, customers should consult their tax advisor or can review IRS Publication 936 “Home Mortgage Interest Deduction”. This publication states “For you to take a home mortgage interest deduction, your debt must be secured by a qualified home. (more…)

Purchasing a new or used boat

Purchasing a new or used boat: Acquiring a new boat should be a very special time for an avid boater, but unfortunately there are so many aspects which cause this experience to become overwhelming. We recommend customers take advantage of the voluminous information that can be obtained from the internet, but more importantly select industry professionals that can assist you throughout the entire boat buying process. (more…)

How to improve the process of getting a boat loan,

How to improve the process of getting a boat loan

  • Be realistic: before deciding to purchase a boat, determine a realistic monthly payment that fits your budget. Remember, the cost of owning a boat is much higher than the monthly loan payment you make.
  • Select a professional: the best way to obtain a boat loan is to get the help of a trusted marine
    finance specialist. They help many customers get boat loans through their direct relationships with community and regional banks. (more…)

Question and Answer Regarding Live Aboard Boats and RVs

Below is a question that was asked by a potential client of boatloans.com
This is regarding live aboard boats and information about financing them.

Please feel free to contact us with any questions you may have regarding buying a boat or the boat loan process.
Our staff will do the best we can to get you a answer that will help you make your decisions. (more…)

BoatLoans DotCom Donates 20000 to The boys and girls club of North Carolina

Barta Tourney brings in small fish, big money on first day

Mason Starling, 10, gives a flounder a fling Friday at the Barta Boys and Girls Club Billfish Tournament. (J.J. Smith photo)

Posted: Saturday, July 21, 2012 11:45 pm | Updated: 6:41 pm, Sat Jul 21, 2012.
beaufort — Friday proved just another hair-raising day in the exceedingly unique Barta Boys and Girls Club Billfish Tournament. (more…)