Do you want to secure financing for your vessel? Does the idea of getting a mortgage on a boat appeal to you, but you aren’t sure what all that entails? Financing can make owning a vessel that much easier. Whether you’re using the vessel for recreation or commercially, not having to pay for the entire vessel all at once can make ownership so much more palatable for your life. However, to ensure that it’s possible to secure financing, there are steps you need to take. As ever, you can find all of the necessary USCG forms at our site.
Initial USCG Forms
If you’re looking for financing for your vessel, when you come to our site, you might go right to the “Preferred Ship’s Mortgage.” After all, it says “mortgage” right there. However, that’s almost invariably going to be step two. The first step is to get your vessel registered. Indeed, no matter what you’re planning on using your vessel for, just about any bank or lender is going to want you to register your vessel first. As with all of the other forms, you can find this at our site.
You’re Going to Use Your Vessel for Paid Transportation
Do you plan on using your vessel to transport people or goods? Maybe you’re going to give tours of a lake, or perhaps transport them from one side of a river to another. If you’re going to use your vessel for those purposes or anything remotely similar to them, then the right thing for you to do is to get a “Coastwise” endorsement.
Link to full article HERE.