Boat and yacht loan terms, as lenders publish them
This table is what each lender published on its own boat or marine loan page when we read it on October 24, 2026. It’s a record, not a ranking and not an offer. Most of these pages carry no date, so a figure can change without notice; open the lender’s link and check its current disclosure before you rely on anything here.
A few things to read for, beyond the rate:
- Longest term and the minimum to get it. Navy Federal needs $30,000 financed to go past 84 months. Truist’s 240-month term is on its marine loan for boats over 30 feet. See how long you can finance a boat.
- Boat age. Truist’s secured loan stops at 10 model years and its marine loan at 15. DuPage limits boats from 2019 and older to 60 months. See used boat loans.
- Use. Navy Federal says boats must be used for recreational purposes, and Trident Funding says it doesn’t finance liveaboards.
- Documentation. U.S. Bank doesn’t refinance Coast Guard documented vessels.
Rate ranges here are each lender’s published range for borrowers it describes, usually with excellent credit. Your rate depends on your application. None of these pages published a balloon product.
Some lenders’ pages couldn’t be read on that date, including PenFed, Essex Credit, Huntington and USAA, so they aren’t listed. A blank cell means the lender doesn’t publish that item.
| Lender | Rates published | Loan amounts | Longest term | Down payment | Boats and borrowers |
|---|---|---|---|---|---|
| Navy Federal Credit Union Credit union (members) | Rate table dated Oct 24, 2026: new boats 6.95% to 8.95% APR, used 7.45% to 9.90% APR depending on term; for excellent credit | $25,000 minimum for 61 to 84 months; $30,000 minimum over 84 months | 180 months | Options with no down payment | Recreational use only. Marine survey required on every used boat. |
| Truist secured boat loan Bank | 8.40% to 11.36% fixed APR; no date shown | $3,500 to $150,000 | Up to 180 months, by amount and boat age | Boats 10 model years or newer, under 30 feet and under 5 net tons. Branches in 18 states and DC. | |
| Truist marine loan Bank | 8.40% to 12.36% fixed APR; no date shown | $75,000 to $2 million | Up to 240 months (typically 120 to 240) | Over 30 feet, 15 model years or newer, value over $150,000. Requires insurance naming Truist as loss payee. | |
| M&T Bank Bank | 6.59% to 15.69% APR for boats; lowest needs $50,000+ and 80% loan-to-value or less; no date shown | $2,000 minimum | 240 months | Not published for boats | |
| U.S. Bank Bank | Purchase rates not shown on the page. Refinance rate stated for FICO 800+, over $50,000, boat under 4 years old. | Purchase loans go through participating dealers | 180 months (refinance example) | Does not refinance Coast Guard documented vessels; not available in AK or HI. | |
| DuPage Credit Union Credit union (Illinois) | 5.75% to 9.09% APR by model year and term; no date shown | $500 to $180,000; $20,000 minimum for 84 to 120 months, $30,000 for 180 | 180 months (60 for 2019 and older) | Rates step by model year | |
| LightStream Unsecured loan | 9.99% to 14.49% APR with AutoPay; maximum APR 25.44% | $5,000 to $100,000 | 24 to 240 months by loan type | Unsecured, so the boat is not collateral and there are no age limits. Rate data window Apr 1 to Jun 30, 2026. | |
| Trident Funding Marine loan broker | Its rate tool showed a 7.37% fixed interest rate (not labeled as an APR) for 240 months on Oct 24, 2026, for 2016-and-newer recreational boats | 20 years typical; no loans under a 10-year term | Credit score 600+; boats generally 20 years old or newer; does not finance liveaboards | ||
| Southeast Financial Marine lender | Advertises a starting fixed rate without a range or date; refinance quoted by phone | $10,000 to $4,000,000 | 240 months | Credit score 575 minimum; older vessels may have age limits | |
| Intercoastal Financial Group Marine loan broker | No current rate; its only rate statement is dated January 2024 | $10,000 to $10,000,000 | Up to 240 months (secured) | Not published on the pages read |
Listing a lender is not an endorsement, and this is not a ranking. No lender paid to appear here, and Yacht.Loans takes no payment from any lender listed.
Question about a lender's terms?
Send us the boat, the price and the term, and a person will reply by email.