Yacht crew mortgage in Florida, for crew paid by the season.
For deckhands, stews, bosuns, chefs and engineers who base between seasons in Fort Lauderdale, Palm Beach or Miami. How a lender reads your pay, and what Florida adds to the file.
Jim Blackburn · NMLS #1072866 · Fort Lauderdale, Florida
Yes, yacht crew can get a mortgage in Florida. Lenders qualify you on documented, continuing income, usually averaged over two years of US tax returns, backed by pay records and a letter from the yacht or management company. In Florida, also check the condo building, the insurance quote and the closing taxes before you make an offer.
Florida facts that change the file
- Florida has no state personal income tax, so your returns show federal figures only. Florida Dept. of Revenue
- Florida charges documentary stamp tax on notes and mortgages, paid at closing. Florida Statutes 201.08
- Condo buildings three stories and taller must complete milestone structural inspections, which lenders review before financing a unit. Florida Statutes 553.899
- A Florida homestead exemption lowers the taxable value of the home you live in; apply with your county property appraiser by March 1. Florida Dept. of Revenue
Can yacht crew get a mortgage in Florida?
Yes. A lender needs to see stable income that is likely to continue, and a yacht career meets that test when it is documented properly.
Most results for this search are written for UK crew buying in Britain. Buying in Florida works under US rules: Fannie Mae, Freddie Mac, FHA and VA guidelines decide what income counts, and the evidence is your US tax returns.
If you are a US citizen or permanent resident buying a home you will live in when ashore, conventional, FHA and jumbo loans are available. A place you rent out while you are at sea uses investor loans instead.
How do lenders count rotation pay and time between boats?
They average your earnings over a history, usually 24 months, rather than judging one month. Rotation schedules, paid leave and seasonal gaps are normal when the history shows them repeating.
- Two years of US federal tax returns with every schedule.
- Pay records or bank deposits that match the employer letter.
- A letter from the captain, yacht or management company with your position, start date, rotation and pay.
- Your seafarer employment agreement or next contract.
A move from one yacht to another is usually fine when the role continues. A short written explanation and the new contract answer most underwriter questions about a gap.
What if my employer is foreign or pays me in euros?
Foreign-paid income can still qualify. The lender converts it to US dollars and relies on your US tax returns to confirm it.
Some crew exclude foreign earnings on their US return. That can lower the tax bill and also lower the income a lender is allowed to use. Talk to your tax preparer and to us before you file for the year you plan to buy. If your documents do not fit a standard loan, a bank statement loan can qualify you on 12 to 24 months of deposits.
Can I buy a condo near the Fort Lauderdale marinas?
Yes, but in Florida the building matters as much as you do. Lenders review the association's budget, reserves and inspection status before they approve a unit.
Florida law now requires milestone inspections and structural reserve studies for older and taller condo buildings. A building behind on repairs or reserves can be ineligible for standard financing even when the buyer is strong. Ask us to check the building before you write an offer, especially in the older towers near the marinas.
If a building does not qualify for a standard loan, a non-warrantable condo loan may still work.
What does Florida add to the cost of buying and owning?
Budget for homeowners and wind insurance, flood insurance in many coastal areas, and the documentary stamp and intangible taxes due at closing.
Insurance surprises buyers coming from overseas or out of state. Get a quote early, because the lender counts it in the monthly housing cost used to qualify you. Homes in FEMA high-risk flood zones need flood coverage for most loans.
Once you own and live in the home, file for the homestead exemption. It can lower your property tax bill and limits how fast the assessed value of that home can rise.
Can I close on a Florida home while I am at sea?
Usually, yes. Florida allows remote online notarization, and many title companies also accept a mobile notary or a power of attorney.
Agree on the signing method with the title company before you leave port. Patchy Wi-Fi at sea is the most common cause of a missed signing deadline.
From clients, word for word
I'm an RE investor. Had multiple loan officers but one really stands out – JIM BLACKBURN. Now, he is working on a third deal with me. He does go the extra mile. A few examples from the past: I have tons of properties and live in China with unique income (he made it work!). He called me in China at 1 AM to get information to close the deal. He is super efficient with collecting the right documents upfront to avoid a lot of back and forth later with processors. You can't go wrong with Jim.
Dennis NikolaevStudio Leader at APCE Dennis Studio · China Run, don't walk to work with Jim and his team. Jim helped us get financing when it seemed like an impossible feat. It was hard enough to be managing a home purchase 2000 miles away, but add to that an extremely competitive market and being self-employed, and it seemed impossible until Jim's team got involved. Jim was not only responsive; he consistently went above and beyond by making clear recommendations, working his magic, and ensuring that financing wasn’t a barrier for buying our dream house in one of the most competitive markets in the country.
David LivermoreFounder at Cultural Intelligence Center · California 
Jim Blackburn, NMLS #1072866
Jim's team works out of Fort Lauderdale and specializes in borrowers whose pay does not fit a simple salary line. 7× Scotsman Guide Top Producer, $500M+ closed, and 300+ lenders to match your file against.
More questions, answered
Do I need to be a US citizen for a yacht crew mortgage in Florida?
No. US citizens, permanent residents and some visa holders can use standard loans. Foreign nationals buying in Florida can look at a foreign national loan, which has its own down payment and document rules.
How much history do I need for a yacht crew mortgage in Florida?
Two years in the industry is the usual starting point, because lenders average variable pay over that period. Less can work with a strong contract; we will tell you which applies to you.
Can my tips count toward a yacht crew mortgage in Florida?
Tips count when they appear on your tax returns with a steady history. Cash tips that were never reported cannot be used.
Does a gap between yachts hurt a yacht crew mortgage in Florida?
A gap that matches the normal rotation or season usually does not. A longer break with no new contract will draw questions, and a written explanation plus the new offer letter typically answers them.
Is Florida Hometown Heroes available for yacht crew?
Usually not. The 2026 program is limited to listed fields such as healthcare, education, first responders, law enforcement and the military, and to full-time work for a Florida-based employer. Veterans who now work full-time in Florida may qualify.
Can I buy a rental in Florida to cover my costs while I am at sea?
Yes. A DSCR loan qualifies the property on its rent instead of your pay. Check the city and condo rules on short-term rentals first.
Can senior crew use a jumbo loan for a yacht crew mortgage in Florida?
Yes, when the loan is above the conforming limit for the county. Jumbo lenders often want more reserves and a longer income history.
Can my partner who works ashore in Florida be on the loan?
Yes. A co-borrower with steady W-2 income can strengthen the file and make the variable crew income less important to the approval.
How do I start a yacht crew mortgage in Florida from overseas?
Tap "See My Options" and answer a few questions. We work by phone, text and email across time zones and send a document list that fits your situation.
Where is your team based?
In Fort Lauderdale, a few minutes from the marinas where many crew live between seasons.
Keep reading
Sources
- Fannie Mae Selling Guide B3-3.1-01 (variable income history and averaging)
- IRS: Foreign earned income exclusion (how excluded income shows on a return)
- Florida Statutes 201.08 (documentary stamp tax)
- Florida Statutes 553.899 (condo milestone inspections)
- Florida Statutes 117.265 (remote online notarization)
- Florida Dept. of Revenue: property tax exemptions (homestead exemption)
- FEMA Flood Map Service Center (flood zone lookup)
- WKMG News 6: Hometown Heroes relaunch, July 2026 (2026 eligible fields)
- NMLS Consumer Access (verify Jim Blackburn, NMLS #1072866)
Between seasons is a good time to plan the purchase.
Answer a few questions about your plans and our team will come back with the options that fit how you are paid.