Call Us To Pre-Qualify!

Boat Loans

Boat Loans From $35,000 & Up

Quick Approvals & Flexible Boat Financing Solutions for Every Boater!

How To Apply For A Boat Loan

1

Search

The first step in the boat buying process is finding a new or used boat that meets your needs! Next, you can estimate your monthly payment by using our boat loan calculator. Then, take your time and find the perfect RV that meets all your needs! We finance boatss up to 20 years old. 

2

Apply

Once you have found the perfect boat, it is time to apply for our boat financing. Our online application system is quick & easy and will pair you with one of our marine lenders instantly. 

3

Enjoy

You can expect a fast-funding process with all of our boat loans. First, we will email your loan documents directly to you and once returned to us, it’s a quick turnaround. This is how you can get out on the water sooner and enjoy your new vessel! Use your boat loan to buy from a broker, dealership or a private party. We accommodate all three sources.

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Boat Loan Financing

Our Boat Loan Benefits

  • Competitive interest rates
  • Loans starting at $35,000
  • No income verification on most boat loans
  • Approvals within hours
  • We finance boats up to 20 years in age

Our Lending Perks

  • Call us today to pre-qualify over the phone!
  • We work with dealers, private parties, and brokers.
  • Buying process guidance and assistance
  • We help with the titling and registration of your vessel.
  • Self-employed, you have an ally here.

As a national lender with over 33 years’ experience, the team at Chesapeake Financial are not only boat loan experts, but we’re also boat enthusiasts. We make boating adventures possible every day. Our business is built upon treating each customer with respect and helping them achieve financing for the boat of their dreams. We know how important customer service is, which is why when you contact us, you’ll be speaking with an expert in the field and a team with over 40 years combined experience.

Debt to income ratios and credit scores are the number one problem in qualifying for a boat loan. But not at Chesapeake Financial. If you have good credit, we’ll get you a loan. We will work to ensure that every possible option is considered before making a loan determination. Our fast and secured process also ensures that you’ll receive a response from us within hours, but in the majority of cases, the same day you apply. We’ll go farther to qualify you for a boat loan than anyone else. Banks say “Yes” or “No”. We dive deeper much than that!

If you have any questions about current interest rates and terms or questions about our boat lending process, please contact us today. Our team will be happy to answer any of your questions and assist! We strive to make the boat loan process as seamless as possible so you can spend more time on the water!

Financing Your Boat Loans

Whether you’re a first-time boater or a lifelong enthusiast, Chesapeake Financial can secure funding for your boat purchase. We offer the best loan rates, terms, and exceptional customer service that you’ll be hard-pressed to find anywhere else. We offer financing for new boats as well as used boat loans

The boat loan application process is simple. We always protect your credit file and secure a boat loan that fits your budget. Our process ensures a seamless transition from application to funding for your next boat. We even supply guidance on how and where to title your boat. If you have questions at any time, we’re only a phone call away. Check out our loan information below and give us a call to get the process started. 

Financing For Your Boat Loans

Whether you’re a first-time boater or a lifelong enthusiast, Chesapeake Financial can secure funding for your boat purchase. We offer the best loan rates, terms, and exceptional customer service that you’ll be hard-pressed to find anywhere else. We offer financing for new boat loans as well as used boat loans

The boat loan application process is simple. We always protect your credit file while securing a boat loan that fits your budget. Our process ensures a seamless transition from application to funding.  We will even go as far as supplying guidance on how and where to title your boat. If you have questions at any time, we’re only a phone call away. Check out our loan information below and give us a call to get the process started. 

Boat Loan Calculator

Want to estimate your monthly boat payment? Just go to our easy-to-use boat loan calculator! If you would like more information on planning your next boat loan, give our team a call today! 

Types Of Boat Loans We Offer

No Income Verification Boat Loans

Are you a self-employed business person looking for a no-income verification boat loan? At Chesapeake Financial, we specialize in no proof of income loans. This means no pay stubs, W2s or tax returns.

A no-doc loan means just that. No documentation required to prove your income or your liquid assets.

Boat Loan Refinancing

There are times in life when refinancing your boat makes perfect sense. Whether you’re wanting a lower payment, a better interest rate, needing to change from joint ownership to single, or simply looking to extend your term, you’ll find that refinancing your boat loan is a simple process with Chesapeake Financial. You’ll receive a fast response after submitting your application through our secure portal. If you have any boat refinancing questions, feel free to give us a call. We look forward to speaking with you soon. Refinancing starts at $100,000 and is based on the value of the boat.

Frequently Asked Questions About Boat Loans

Yes, it’s possible to finance a boat for 20 years. Not all investors offer extended terms on boat loans, especially for more expensive vessels or loans over $50,000.00. However, the exact terms and duration will depend on the age of the boat, the amount borrowed and your creditworthiness.

To pre-qualify for a boat loan, follow these steps:

  1. Get your real credit score, such as through one of the reputable, big three credit reporting agencies.
  2. Call Chesapeake Financial Services Inc, and discuss the details of your purchase. We can pre-qualify many borrowers with only 5 questions.
  3. We will provide an estimate of the loan amount and interest rate for which you may qualify.

Interest rates for boat loans vary based on several factors including the lender, your credit score, the loan amount, and the length of the loan. Rates could range from 7.49% or higher, but to get the most accurate estimate, you will need to call us or submit a boat loan application. 

Approval times vary. Some investors offer decisions within a few minutes to a few hours, while traditional banks or credit unions might take a few days to review your application. Wouldn’t it be nice to know ASAP?

Some lenders have prepayment penalties, meaning you can’t pay off your loan early without incurring extra fees or interest charges. However, Chesapeake Financial does not offer loans with pre-payment penalties.

Boat loan terms can vary widely based on the lender, amount borrowed, and the boat’s value. Common loan durations range from 10 to 20 years terms.

Applying for a boat loan is very similar to auto loans and personal loans. Knowing your credit score is very important. That puts you in the driver’s seat and not the lender. You can find your score for a small fee through any of the big three reporting agencies. Experian, Transunion and Equifax. Knowing your budget is always a great place to start as well. It’s as simple as giving us a call and we can help you navigate these challenges.

Boat loans are similar to car loans. Once you’re approved, the lender provides funds to purchase the boat. You then make regular monthly payments over the agreed loan term. The boat serves as collateral for the loan, which means no other personal possessions or assets will be used or incumbered.

Check Out Our Other Primary Lending Areas

Although we’re a national boat lender that serves the contiguous 48 states. Here are a few of the states where we service boat loans.