Whether you are a U.S. Coast Guard boat owner looking for a mortgage, you may wonder if there is a unique program designed just for people in your situation. In any case, there is! Borrowers who meet the requirements for the preferred ship mortgage program offered by the United States Coast Guard are eligible to…
In the United States, a first preferred ship mortgage is a mortgage secured by a vessel that has been registered with the United States Coast Guard. A First Ship Mortgage is a mortgage that takes precedence over all other mortgages and is secured by real estate (in this case, the ship) according to
The hailing port, it is possible to believe, is solely significant in terms of the actual location of a vessel. And you’d be correct — but you’d be mistaken if you assumed it was just a matter of a vessel’s geographical position. In the United States, experts argue that anything from obtaining a flag of…
There is a good chance that you are familiar with mortgages for real estate. With the advent of the preferred ship mortgage, ship owners may take out loans against their boats. It’s a common misconception that only current or former navy commanders may qualify for this financing. A preferred ship mortgage is available to any…
Is it possible for you to finance your vessel more cost-effectively? You may wish to apply for a preferred ship mortgage if this is the case. It is possible to profit from cheap interest rates and flexible repayment choices if you get this form of a mortgage. There are specific requirements to be met to…
When you complete the documentation necessary to register your boat with the United States Coast Guard, you may be able to finance the vessel with a preferred ship mortgage. Much like the mortgage on your house, this allows you to make payments on your boat, which can make it a more achievable option for many…
Are you looking for a way to finance the vessel you’ve always wanted? Does it seem like it’s not as easy to get a mortgage on your vessel as you would like? Financing is a great way to be able to enjoy the vessel of your dreams without turning your bank account into a nightmare.…
