If We Can't Do It, No One Can
We make boating adventures possible every day in Virginia. Our business is built upon helping customers get the boat they want and a boat loan that works for them. Want the boat of your dreams? Look no further than Chesapeake Financial for great boat loans in Virginia. We know how important customer service is, which is why when you contact us, you’ll be speaking with an expert in the field, not an automated system.
We’re the number one boat loan lender nationwide and proud of it. We work to ensure that every possible option is considered before making a loan determination including your rate and terms. Our fast process also ensures that you’ll receive a response from us within 24 hours. We’ll go farther to qualify you for a boat loan than the banking world would ever think about doing. We have the expertise in the industry to secure financing for you and if we can’t get you a loan, we’ll let you know why.
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 to help you acquire the boat you want.
A no-doc loan means the borrower doesn’t have to provide the lender with standard proof-of-income documents such as tax returns, paychecks, or W2s. We may verify your income through earning statements, savings, assets, stock holdings, and more. Traditionally, self-employed no-income verification boat loans have larger down payment requirements and higher interest rates.
Over the last 32 years in business, we have become accustomed to the trials of the self-employed not having proof of income documentation. Well now we have the answer. If you do not have sufficient ability to prove your income but still maintain a high credit rating, we have more than one way of obtaining up to $199,999.00 even if you can’t. We can also overcome the lack of personal liquidity up to $299,999. That means that even if you can prove your income but lack the large savings or investment accounts that most lenders require, we can help there as well. Please feel free to give us a call to discuss these options.
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Known for both its history and romance, Virginia offers visitors sunny beaches and rolling hills which lead to beautiful boardwalks and charming towns. This state is also known as the home of Jamestown, the country’s first English settlement. However, the surprises don’t end there — boating and fishing here can be just as exciting, if not more.
For those who prefer a less secluded lake, many anglers have picked Lake Maury as their favorite spot. Owned by Mariners’ Museum, North America’s biggest maritime museum, this lake offers a welcoming landscape where you can enjoy a cool and forested area along with the activities you have planned. Due to its connection with the museum, the lake is used for scientific research but visitors are welcome to relax by the shores or head to the water for fishing.
Lake Drummond serves as the centerpiece of the Great Dismal Swamp and sports a round shape, which has created an area of wetlands. This 3,100-acre lake is located just 10 miles from Suffolk and is in the southeast part of Virginia. As the state’s second-largest freshwater lake, many people have flocked here for the boating opportunities it presents. Because of the lake’s pH levels, there is an abundance of fish.
The Atlantic Ocean is the second largest body of saltwater in the world and covers twenty percent of the Earth’s surface. It is home to an astounding number of coral reefs and has a number of aquatic wildlife including sharks, dolphins, whales, sea turtles, and manatees. There is an entire mountain range, known as the Mid-Atlantic Ridge, buried beneath the Atlantic Ocean. Whether sailing, fishing, or relaxing, the Atlantic Ocean is a go-to vacation spot that doesn’t disappoint.
Virginia is a beautiful place where the waters connect to the ocean. You can find something that appeals to every type of boater here. From fishing to sightseeing, you’ll find it here in Virginia. Here are some other places for you to bring your boat while in Virginia:
We play by the rules, but we think outside the box. Why go to a bank when you know they only got two things to do: turn you down or approve you. We make every effort to secure a boat loan for you. That means exploring all possible options. The bank won’t go the extra mile. We will. Your approval is our success.
We realize that things happen in life, but there are some items that lenders don’t look favorably upon. If you’ve experienced any of the following events within the last several years, then we won’t be able to secure a boat loan for you. That doesn’t mean there aren’t solutions, but it does take time and a game plan.
Whether you’re a first-time boater or a lifelong enthusiast, Chesapeake Financial can secure funding for your boat purchase. We offer great loan rates, terms, and exceptional customer service that you’ll be hard-pressed to find anywhere else in Virginia. 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 in Virginia. If you have any 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.
New and used boat loans begin at $35,000 and go as high as $22 Million. We do not finance boats that are older than 20 years of age. Interest rates vary by credit scores, age of boat, and equity positions. The wholesale value must be $50,000 or higher on boats older than 15 years of age and by no means, can we finance boats that are older than 20 years of age. We do not finance boats not listed in the NADA or BUC Value guides. Please refer to the section on what boats we can and cannot finance and the required down payments section.
The interest rate on a boat loan is based on the age of the boat, the total amount financed, your credit score, and vehicle valuation. We work with you to find the best rate possible for your credit situation.
Boats older than 2019 & over $100k normally requires full documentation including 2 years tax returns and a personal financial statement. Exceptions may apply. Personal liquidity (liquid assets) are an important part of a large loan approval process. Your personal financial statement will need enough liquidity to cover the loan.
When you call us you’ll be speaking with a knowledgeable expert in the boat loan industry. Our goal is to answer all of your questions and help you secure financing if we can. If you happen to call us and we don’t answer, leave your name, number, and the we’ll give you a call back as soon as we can. We will call you the same day you call us and you will never be left hanging. You may also contact us using our “Contact US” page. We provide solutions everyday to people who are ready to purchase and we offer better customer service than the majority of the banking industry.
Chesapeake Financial is a national boat loan lender that offers boat financing in Virginia on model years up to 20 years in age. Boats older than 15 years of age are considered on a case-by-case basis and will vary based on the size of the boat loan, the age of the vessel, and your credit scores and are based on wholesale valuations. Minimum loan amounts on boats older than 15 years of age start at $50,000. We accommodate broker, dealer, and private sales.
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 in Virginia 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 or credit questions, feel free to give us a call. We look forward to speaking with you soon.
Refinancing starts at $60K*
*Based on value
Documents You’ll Need:
Minimum documentation may be required.
Click the button below to call us today and discover your rate.
Once the application is filled out, you’ll get a response from us within 24 hours at most. Usually the same day.
Take your approval loan to the dealer, a private party, or a broker. This will improve your purchase power.
After the deal is finalized, contact us for the documents required and we’ll finalize your loan.
We’ll send the funds overnight to you or the dealer. Wires are available.
Feel the wind and spray of the open water on your new boat.
We are a national lender that deals in all of the contiguous 48 states.
My call was returned within minutes — not hours like other places. Phil got me a great loan with a great rate even though we were first-time “big boat” buyers. Very happy with EVERYTHING that was done!
– MARK MILLS
Phi is a pleasure to deal with. I have financed two boats with him and he has always made it an easy, quick process. I would highly recommend contacting Phil when shopping for your boat financing.
– VITO MANZI
Great company to do business with and would refer anyone needing a boat loan over to them. Very knowledgeable and will go the extra mile to get you the best rate. Couldn’t be more pleased.
– SERGIO GALINDO
The term is based on the value and age of the boat you are purchasing.
Yes, in fact, we do 15-20 year boat loans.
Yes, with a simple 5 question conversation. Please give us a call at your convenience.
Interest rates are based on your credit score and the value of the boat you’re purchasing. Call us for specifics regarding your situation.
Always within 24 hours and as fast as instantly.
There are several reasons why being prequalified for a boat loan can aid a buyer. First, it lets the buyer know how much money they can borrow. Second, being prequalified can make the boat buying process a smooth experience. You can walk into a dealership and have confidence that you have financing already in place. Prequalification lets you know how much boat you can afford and what the monthly payments will be.
Yes. No prepayment penalties are ever assessed.
Depending on the age and amount borrowed, as many as 20 years in term.
By having good credit and calling us for valuation.