Getting a boat loan is easier than you think. It’s simpler than a mortgage and just a bit more detailed than a car loan—making it smooth and straightforward for first-time buyers

Applying for a boat loan is easy – use our online application or reach out to us directly:  This email address is being protected from spambots. You need JavaScript enabled to view it.. Verification of income or liquidity may be required for larger loan requests (over $200,000).

Approvals generally take 24-48 hours, though larger loan amounts may take a bit longer.

Absolutely and we recommend it! A preapproval puts you in a stronger position, helping you negotiate with confidence and act quickly when you find the right boat.

30- 60 days.

A minimum FICO score of 680 is required. Scores over 800 may help you secure better rates and terms.

In general, down payments range from 10–15% for loans under $100,000. For loan amounts over $100,000, a 15–20% down payment is typically required.

Loan Terms are available for up to 240 months (20 years).

Sterling Acceptance does not charge application, origination, or credit report fees. There is a small processing fee (under $500), as well as applicable Coast Guard and state registration fees.

Under current IRS guidelines (IRC Section 163(h)(2)(3)(4)), boat loan interest may be tax-deductible if the boat qualifies as a second home. To qualify, the vessel must have three features: a sleeping berth, galley, and head. The deduction applies to interest on loans up to $750,000. We always recommend consulting your tax professional to determine your eligibility.