Bay River Houseboats

How long can you finance a house boat?

I'm considering purchasing a house boat and living on it, but a $80k loan for 5yrs is....far to expensive, but 15yrs or more would be much easier. Does anyone know the best route?

Public Comments

1. It depends on the bank. I know that they typically will not finance any type of boat for more than about 5 years because boats depreciate so quickly.
2. A houseboat is still a boat. Check with various lenders, as some may go 6 to 10 years. Also check with lenders at your local boat show since many lenders will offer special deals during the boat show only. It could be a slightly lower interest rate or a little bit longer term. Most people who buy houseboats to live on sell their homes and use the proceeds to pay cash for the houseboat!