Boat Loans
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Whether you're looking to buy a new or used boat, flexible rates and terms are available:
- Repayment terms up to 240 months
- 90% financing is available
- 85-144 Months — minimum loan $20,000
- 145-240 Months — minimum loan $25,000 (a)
- The vessel must be equipped with sleeping, cooking, and bathroom facilities.
- A first ship's preferred mortgage must be recorded with the Coast Guard.
- The vessel must meet the requirements for a home mortgage interest deduction by qualifying as a "second home" in accordance with the Internal Revenue Code.
(a) To be eligible for financing for 145 up to 240 months, the following requirements must be met:
Become an
Educated Choice
MemberMaintain a combined minimum deposit balance of $5,000 or more, you'll get a 0.50% loan rate discount; $2,500 to $4,999 and your discount is 0.25%.
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