Private & Hard Money Loans for Yachts and Boats
Miami, Fort Lauderdale and Southeast Florida
Private Lending Solutions for Unique Lending Needs
At Miami Private Loans, we connect borrowers with private lenders in our network who specialize in yacht and boat financing, especially for those facing credit challenges or unique circumstances. Whether you are looking to purchase a luxury yacht or a high-quality pleasure craft, our network of private and hard money lenders is ready to help you secure financing even if traditional banks are unable to meet your needs.
General Guidelines for Private Boat Loans
- Loan Amount: Typically, loans range from $250,000 to $1 million, depending on the value of the yacht and the borrower’s profile.
- Interest Rates: Interest rates for boat hard money loans generally range from 15% to 18% for fixed-rate loans.
- Loan Term: Standard terms are typically up to 48 months, though longer terms may be available depending on the lender and your specific situation.
- Origination Fees: Private lenders in our network who specialize in hard money loans for boats may charge an origination fee between 3 to 5 points based on the loan amount.
- Loan Type: Interest-only and fully amortized loan options are available, depending on the lender’s policies and the borrower’s qualifications.
Why Consider Private Financing & a Hard Money Loan for a Boat ?
- Flexible Solutions: We work with lenders in Miami and Florida who understand that traditional bank financing may not always be an option for individuals purchasing luxury yachts.
- Access to Specialized Lenders: Our network includes private lenders who specialize in yacht loans, and hard money loans for yachts, offering flexible terms for a variety of unique lending situations.
- Quick Process: Yacht private loans through our network often offer faster processing and approval times than conventional bank loans, so you can get on the water sooner.
If you are interested in exploring yacht financing, contact us today to connect with the right private lenders for your specific needs.
Private Lending Solutions for Yachts & Boats
A hard money loan for a boat could be a good fit if:
- Equity Take-Out: You need to unlock equity from your boat or yacht.
- Low Credit Score or Inconsistent Income: If your credit score or income history has caused traditional lenders to turn you away.
- Previous Delinquency, Judgments, or Bankruptcy: If past financial challenges have made it difficult to get approved for a loan.
- Unverifiable or Non-Traditional Income: If your income is difficult to verify or not considered “traditional.”
- High Debt Ratio: If you are dealing with a high debt-to-income ratio but still have the means to repay.
- Non-Traditional Use: For boat financing where the vessel will be used for charter or as a liveaboard.
- Foreign Nationals: If you are a foreign investor looking to secure financing for a yacht or boat in the U.S.
If you are seeking a hard money loan for a boat or yacht in Miami or Southeast Florida, our network of private & hard money lenders will review your loan submission and may offer a tailored lending solution to meet your needs.
Disclaimer
This content is intended as a general guide for private yacht and boat solutions through private lenders in our network. Miami Private Loans.com is not a direct lender but serves as an introducer, connecting borrowers with appropriate lenders based on their specific financing needs.