- Loan amounts from $15,000 for boats model year 1998 and newer
- Multi Hull Boats
Let our team of experts help you finance your next boat. Working with leading marine lenders, BoatUS is able to offer competitive rates and terms to help you purchase a new boat or refinance your existing boat loan. Please review the information below before filling out a free online application.
|Rates, loan terms and required down payment can vary depending on the lender, loan amount, boat type and boat model year.|
|$15,000 - $24,999||6.94%||Up to 12 years|
|$25,000 - $55,800||6.99%||Up to 15 years|
|$55,801 - $74,999||5.50%||Up to 15 years|
|$75,000 - $349,999||5.25%||Up to 20 years|
|$350,000 +||5.37%||Up to 20 years|
Do you offer pre-approvals?@headingvalue>
What type of credit do I need to obtain a boat loan?@headingvalue>
Credit requirements vary by lender but our lender’s generally require applicants to have a credit score above 680 with no major credit issues such as a bankruptcy, foreclosure, settlement or charge-off within the past 5 years.
How do you evaluate my application?@headingvalue>
What information do I need to apply?@headingvalue>
You will need to provide basic demographic and employment information, complete a personal financial statement that lists all your assets and liabilities, and provide us with information on the boat you are interested in buying or refinancing. As part of the underwriting process, our lender will likely ask for tax returns and bank statements for non-retirement and retirement assets to verify your income and net worth, a copy of the sales contract, and a marine survey report (on most used boats.) At the end of the application, you can securely upload these documents to help speed up the review of your application.
How long does it take to get a decision?@headingvalue>
How does the closing process work?@headingvalue>
How expensive of a boat can I afford?@headingvalue>
How can I check the value of the boat I am buying?@headingvalue>