As the days grow shorter and the temperatures drop, boaters across the East Coast set their sights on a timeless tradition — heading south along the Intracoastal Waterway (ICW) for the winter. Whether you’re a seasoned cruiser or making your first voyage down the “Snowbird Highway,” the journey offers incredible scenery, charming towns, and unforgettable experiences. Before hitting these five standouts stops, make sure to make a quick stop in North Carolina at Coinjock Marina and Restaurant,. It’s the perfect spot to fuel up- or even have a hearty steak- before continuing your adventures.  Here are those standout spots, plus few tips and “don’t miss” moments for your trip.

Keep Your Boat Safe & Ready for Spring

Just because your boat is tucked away for the winter doesn’t mean you can forget about it until spring. A little attention now can save you from costly repairs later and make your spring launch a breeze. Here’s how to keep your boat safe, whether it’s in the water or on land.

There is a common misconception that when the Federal Reserve changes interest rates, it directly affects boat loan and mortgage rates. In reality, these short-term rates determined by the Fed have little influence on how lenders set rates for consumer or mortgage loans.

Questions to Ask Yourself Before You Buy

Buying a boat is exciting—but it can also be overwhelming. The first question to ask yourself is simple: What do you want your boat to do for you?

We often start here when clients are exploring financing or deciding what type of vessel fits their lifestyle. How you answer this question will guide nearly every other decision you make along the way.

Thinking about lowering your monthly payments or getting a better rate on your boat or RV loan? Refinancing might be easier—and smarter—than you think. Discover when it makes sense, how to save, and keep more cash for the adventures you love. 

Why we need them - How we use them - What you should know

A credit report is a summary of information about your credit – including a repayment history and a current status of your accounts.  Your credit report will show whether you are making payments on time, how much you have borrowed, and how much available credit is remaining to borrower against.  It will also show if there are, or have been, any negative public filings for nonpayment of obligations.  The Credit report is the Primary Sourcce that creditors use to evaluate your repayment history of current and past debts. The credit score that is shown on the report provides a sense of credit risk and allows a potential creditor to make an edicated decision whether to approve your loan request. Therefore, a good credit rating is essential for your financial future.

Think buying a boat is just about weekend adventures and sunset cruises? Think again. Your boat might just save you money on your taxes too. Yep—you read that right.

Facts, tips, & explanations on what marine lenders expect

A basic definition of liquidity is the ability to sell an asset without losing much, if any, of its value.

Lenders want to see an applicant with liquid assets such as cash, stocks, bonds, and mutual funds that can easily be converted to cash within 30 days. These assets combined should show that you have the money for the down payment, sales/use tax on the boat if not included in the loan, and reserves set aside for loan repayment and living expenses should your income decrease unexpectedly. The standard down payment requirements range from 10 to 20 percent of the purchase price and it’s wise to have savings after the down payment of 6 to 12 months’ worth of total payments (home, auto, boat, etc.).

Getting a pre-approval before you start searching for a boat or RV to purchase is something that will really come in handy. It saves you from wasted time and frustration by looking at units that are unaffordable. Also, your offers are more likely to be accepted by sellers when they know you are already pre-approved and have your financing in order!

Below are some trusted resources to support you throughout your Boat and RV buying journey: 

• BUC Valuation: www.bucvalu.com
• J.D. Power Pricing: https://www.jdpower.com/boats / http://www.jdpower.com/rvs
• Society of American Marine Surveyors- SAMS: www.marinesurvey.org
• National Association of Marine Surveyors- NAMS: www.namsglobal.org
• National Marine Lenders Association: https://www.marinelenders.org/
• American Vessel Documentation Association: https://americanvessel.com
• United States Coast Guard Documentation: www.uscg.mil
• Marine Trades Association of Maryland:https://mtam.org/
• National Oceanic and Atmospheric Administration: http://www.noaa.gov
• National Weather Service: https://www.weather.gov