Yes — a home equity loan or HELOC is a common way to finance a boat purchase. The interest rate is often lower than a dedicated marine loan, and the interest may be tax-deductible (consult a tax advisor). The risk is that your home is collateral. If you have significant equity and good discipline, it is a financially efficient option.
Financing the purchase? See how boat and RV loans work in Arizona, including which lenders fit by the unit’s age and price.
