The recent combination of high property values and low interest rates has made home equity loans and credit lines a viable option for boat financing. This option can be particularly good for individuals with a challenged credit profile. These loans are based on equity available in home and can allow a person with poor credit to get affordable terms that otherwise would not be available. The drawback to these loans is that home equity is now tied up in a boat purchase. Conventional boat loan rates are very low. A person who can qualify at agreeable terms is usually better off with a conventional boat loan. This will allow a person to keep equity in home for an emergency along with ability to sell without encumbrances.

Choosing right boat loan is an important step in buying process. A good place to start is with a boat finance brokerage, for example www.seadreaminc.com, that can show you how each of options will fit into your profile. This will give you ability to find loan that fits you best. Then you can concentrate on important stuff – like your first trip to water.

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About Author: Tom Schumacher is president of SeaDream Inc. Boat Loans and Boat Insurance - www.seadreaminc.com, West Coast leader in new and used boat loans, boat refinancing, and boat insurance. He as over 15 years of experience in boat finance industry and is widely regarded as one of industry experts on boat financing.