The Loan Process - For Boats & RVs

Leading the industry in customer satisfaction for Boat and RV clients

Boat Loan Lening Process

Once you've decided on, or are very close to your decision to purchase a new boat or RV, the first question that comes to mind is, "How am I going to pay for it." The majority of purchases involve some level of boat financing or a conventional boat loan. Choosing the right financing source can be as important as choosing the right boat.


Step 1 - Fill out the Loan Application

This is the most important step in assuring your request is processed quickly. Be thorough in completing the application and not leaving any field unanswered. This assures that your request will not be delayed due to missing information. All fields are necessary in order to have an answer as quickly as possible. How the application is presented is important.

Step 2 - Provide income verification

For loans of $25,000 to $49,900. Include copies of you w-2 from the most recent year end and a recent YTD pay stub. For loans over $50,000, include copies of w-2’s and 1040 personal tax returns for the last 2 filing years as well as the most recent YTD pay stub for all applicants. If you are self employed, copies of the corporate, LLC, or partnership returns should also be included. Include a copy of your purchase agreement for the boat or RV being purchased if available.

Step 3 - Receive Approval

Once a decision is reached by one of our lending partners, we will notify you of the “conditions” of approval, normally the same day, or within 24 hours. The approved loan amount, term, and interest rate is communicated at this time, along with any other possible stipulations for additional financial information, purchase agreement, marine survey requirement, etc.

Step 4 - Accepting the Loan Terms

Once all stipulations (if any) have been met, and you have accepted the loan terms, we will contact the seller for title information and the appropriate abstract searches will be ordered. This typically takes 24 to 72 hours. Any encumbrances or liens that may be discovered will be cleared out of the sale proceeds to assure clear title can pass to the purchaser. Vessels that meet the Coast Guard net tonnage requirement, will in most cases be required to be documented (titled) and secured by a Preferred Ship mortgage. We utilize an independent documentation title service to prepare the paperwork and the recording with the National Vessel Documentation Center.

Step 5 - Loan Settlement

The loan closing can take place in our office or via an overnight mail away closing package. The process from the initial application to closing usually happens within 3-5 days. Most importantly, you retain control of the sale by directing us when to release the loan proceeds once you are satisfied that the dealer or seller has met all conditions of the sale. Or, we can issue a proceeds check that you turn over to the seller at delivery.

Work with the Best

Sail Boat Financing

Not all Boat & RV Financing Companies are created Equal.

  • Periodically, we may negotiate a lower than market promotional interest rate arranged with one of our lending partners. So it pays to give us a call!
  • Because of our relationship with boat manufacturers, we have special finance programs on certain brands or models.
  • Other options are also available such as: delayed first payment, no interest for several months, or lower rates for a limited fixed term.
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We offer some of the best rates and the quickest approvals to make sure you're on the water or road as quickly as possible.

Start by contacting us today and we'll get to working immediately.