Here are our current yacht and boat loan interest rates for purchases and refinancing of new or used boats and yachts. We have listed ranges of rates as different rates apply to different boats, yachts, credit score, down payment, ..... Rates have gone up over the past month by .5%.
|CURRENT YACHT AND BOAT LOAN RATES *|
|$100,000 and up  || 4.12% to 4.99%|
|$75,000 to $99,999|| 4.24% to 5.50%|
|$50,000 to $74,999|| 4.74% to 5.62%|
|$25,000 to $49,999|| 6.25% to 6.74%|
|$15,000 to $24,999||Please call|
Boat loans are very specific to each customer and we can easily give you a quote over the phone with some basic information such as your credit score, state of residency, and the year, make and model of the boat. Please give us a call at 954-847-1552.
Consider each of the following questions which may change or determine the rate and terms:
- What is your credit score? You must know your score! This is the first item most banks will review. For information about credit scores, please read Boat loan basics - Credit Score.
- What is your credit history? Do you have lates? Do you have comparable credit? For more information about credit history, please read Boat loan basics - Credit History.
- What size loan amount will you need?
- What type of boat are you buying?
- Is the boat new or used? If used, how old and does it still qualify for what banks?
- What is the required down payment? For more information about down payments, please read Boat loan basics - Down Payment.
- Does the book value of the boat support what you are paying for it? For more information about valuing your boat, please read Boat loan basics - Boat Age and Value.
- Do you need a survey or inspection?
- Do you have any late payments or credit issues in the past 7 years?
- What is your debt to income ratio? For how to compute your debt to income ratio, please read Boat loan basics - Debt to Income Ratio.
- What do you need to do for refinancing?
- How do the bank underwriters determine your usable income on your tax returns?
- What do they look for on your W-2s and paystubs?
- What if you are self employed?
- How long have you been on the job?
- Will the loan term affect the rate? How many years will the banks offer?
- Are there options for older vintage boats?
- What state do you live in?
- I don't want a lot of people to pull my credit, how will this affect my credit score?
- How many credit pulls will I incur?
- What if you have already applied somewhere else?
- Will the boat be state titled or Coast Guard documented?
- What is my real boat loan interest rate and payment?
These are just a few of the questions that go into each and every loan. We will be more than happy to discuss your situation and give you a choice of rates, programs, and banks. If we can't help or think you are better off somewhere else, we will tell you where your best alternatives may be. We are here to help! Apply Today - Click Here to Start!
The easiest way to help is for you to apply online. We will be able to value the boat, look at your credit and call you to discuss your options. You application will NOT be submitted anywhere until we speak to you and you say it is ok to send it. If you have a copy of your credit report or don't want us to pull credit until we talk to you, you can put "do not pull credit" in the comments box on the application. If you have any questions at all, please give us a call at 954-847-1500. You can apply by clicking the link below.
Still have questions? Please give us a call at 954-847-1500.
* The boat loan interest rates above are APR and subject to change and program guidelines. Customer qualifications are based on many factors including credit score, credit history, income verification, collateral type and value.
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