At Ocean Blue Yacht Sales, we provide a one-stop purchase experience so that everything is coordinated and completed in a timely fashion. From the purchase process to financing and insurance for your boat, Ocean Blue Yacht Sales can handle everything.

Financing your purchase can be a complicated process but here at Ocean Blue Yacht Sales we strive to keep it straight forward and easy to understand. Below are answers to frequently asked questions you may have.

To start the process please download our credit application which can be filled out on your computer and then email the application and any required documents to

Click Here to download application

Frequently Asked Questions

Q: What information do I need when applying for a boat loan? 
A: You will need your purchase agreement, a completed credit application, proof of income (W2, paystub or tax returns), and any copies of bank statements, investment statements, etc., if required.

Q: What is the current rate? 
A: Boat loan rates and terms are based on several factors: the amount being financed, age of the boat, down payment, and, most importantly, your credit score. We can quote general rates but the actual rate will depend on your qualifications.

Q: How long is the rate locked for once I am approved? 
A: Most of our lenders lock the rate for anywhere between 30-60 days. If the loan does not close during the given approval rate lock timeframe, you will be subject to the rate at the time of loan closing.

Q: How long can I take the loan for?

A: Amount Financed

Available Term

$10,000 - $24,999

  12 years (144 months)

$25,000 - $99.999

  15 years (180 months)

$100,000 +

  20 years (240 months)

Q: What are the down payment requirements?
 The standard down payment is 10-20% for loans up to $100,000 and 15-20% over $100,000. Any equity in a trade in may be counted as part of the down payment.

Q: Is this a fixed rate loan? 
A: Yes, fixed rates with a simple interest amortization, which establishes a permanent payment over the life of the loan.

Q: What are your fees? 
A: Fees are made up of state titling and registration fees and/or the documentation costs are dictated to us by those agencies. These fees are normally included in your loan, but if you would prefer to pay them separately, we can accommodate that as well.

Q: Are there any pre-payment penalties? 
A: Not with most lenders.

Q: How long does the loan application process take? 
A: Once we receive your credit application and supporting documents we will usually have an answer from the lender by the end of the next business day. Loans over $100,000 may take a little longer.

Q: Should I apply for the boat loan with more than one company? 
A: Every time you give permission to pull your credit file, it lowers your credit score. Be cautious of this and only give your application to the company that you are most certain that you will do business with. Having several companies reviewing your loan application can jeopardize your approval and loan rate. We are able to pull your credit only once then submit your application to several different lenders so that way we can get you the best possible deal out there.

Q: Do I have to provide income verification? 
A: Yes, for all loans over $100K, the lender will normally require income verification. Additionally, loans under $100K may require verification at the lenders discretion.

Q: Once approved, how quickly can this loan close? 
A: We will work with you to obtain the necessary paperwork to proceed with the closing. This loan closing can happen in as little as a day or two once the approval has been obtained and all conditions have been signed off on. Loans involving Coast Guard Documentation can take an extra day or two.

Q: Who handles the titling, state registration, or U.S. Coast Guard Documentation? 
A: Ocean Blue Yacht Sales handles your state registration and titling, we are required to do so to ensure that the title is issued properly and sent to the bank. We work closely with several approved documentation agencies for all the lenders we use. This means one-stop shopping. We will take care of your loan needs, registration, and/or documentation.