House boat loans are available for those who don't have the money up front to buy a houseboat. They're available for both new and used boats.
The type of loan you are looking for is called a marine mortgage
which is based on a 20 or 25 year term. It's pretty close to that of an
If you are buying used most of the time you would not get the full 20 or 25 years on the loan. The age of the houseboat would be subtracted from the loan term resulting in a higher monthly payment.
You can take advantage of tax credits with these loans and they have pretty much the same requirements as do all other loans.
You should also expect to provide a down payment and it's a good idea to know your credit rating before going to the bank, this way you know what to expect. You can get your credit report from a number of places. Below are some places that I recommend so that you don't have any surprises when you go to the bank.
Your credit rating is mostly effected by your credit history and debt ratio.
you're prepared—meaning you've checked your credit and found a
houseboat that you want to buy—it's time to apply for loans. Your first
stop should be looking specifically for boat loans. Then you can try
bank and credit unions.
Estimate your payment for loan using this calculator. Link opens in a new window.