boat loans
Set sail with the right financing.

Compare your boat financing options.

Whether you’re buying a new or used boat or refinancing your current boat loan, we have options for your financing journey.


BOAT SHOPPING

Shop and finance your next boat all in one place.

Browse and apply for a new or used boat from our participating dealerships. If approved, the dealer will have your pre-approval ready when you arrive for a smoother purchase experience.


BOAT FINANCING PRE-APPROVAL

Pre-approval puts you one step ahead.

Know what you can spend so you can shop with confidence for a new or used boat. Your Illuminus Bank boat financing pre-approval is good at any of our participating dealerships. 


BOAT LOAN REFINANCE

Refinancing your boat loan could help you save.

If you’re looking for a better term or interest rate, a Illuminus Bank boat refinance could help. Not available in all states.


Illuminus Bank Yacht & Boat Loans offer tailored financing solutions for individuals looking to purchase or refinance luxury watercrafts. Here's a detailed overview of the requirements, refinancing options, and loan process:

🚤 Yacht & Boat Loan Requirements

✅ Credit Score: Minimum 700+ recommended for competitive interest rates.
✅ Income Verification: Provide pay stubs, tax returns, or financial statements to ensure loan eligibility.
✅ Down Payment: Typically 10%–30% of the vessel’s purchase price, depending on loan type.
✅ Age & Condition of Vessel: Financing available for new, pre-owned, and refinanced boats/yachts (age restrictions apply).
✅ Marine Insurance: Proof of insurance required before loan approval to safeguard the asset.
✅ Debt-to-Income Ratio (DTI): Must meet standard thresholds to qualify for financing.

🔄 Yacht & Boat Loan Refinancing

Upgrade Your Financing for Better Terms & Lower Rates.
Refinancing an existing loan with Illuminus Bank can provide:

  • Lower Interest Rates: Reduce monthly payments with competitive refinancing options.
  • Extended Loan Terms: Customize repayment schedules from 36 to 240 months.
  • Cash-Out Refinancing: Access equity for vessel upgrades, repairs, or additional marine purchases.
  • Flexible Repayment Plans: Adjust terms to align with financial goals.

📌 Step-by-Step Loan Process

Step 1: Pre-Qualification

  • Use Illuminus Bank’s Marine Loan Calculator to estimate affordability.
  • Get pre-qualified without affecting your credit score.

Step 2: Loan Application

  • Submit financial documents, vessel purchase details, and down payment information.
  • Choose between fixed-rate or adjustable-rate financing.

Step 3: Vessel Appraisal & Loan Review

  • Illuminus Bank assesses the yacht/boat’s value for fair pricing and financing approval.
  • Credit and financial profile undergo underwriting review.

Step 4: Loan Approval & Documentation

  • Receive finalized loan terms, repayment schedule, and interest rate details.
  • Complete necessary agreements to finalize the financing.

Step 5: Funding & Ownership Transfer

  • Funds are directly transferred to the seller or dealership.
  • Begin repayment according to the agreed terms.

🔥 Limited-Time Offers

✅ Zero Processing Fees for applications submitted by 06/30/2025. Yacht loan APRs* as low as 6.74%
✅ Loyalty Rewards: Earn bonus points redeemable for fuel, docking fees, or travel perks.
✅ Yacht Upgrade Bonus: Refinancing customers receive cashback for vessel improvements.



Disclosure

Refinancing is available in the following states: Arizona, Arkansas, California, Colorado, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Minnesota, Missouri, Montana, Nebraska, Nevada, New Mexico, North Dakota, Ohio, Oregon, South Dakota, Tennessee, Utah, Washington and Wisconsin.

Illuminus Bank assists its customers by working with dealers across the nation. Financing pre-approval is only valid at a dealer with which Illuminus Bank works. Illuminus Bank is not affiliated with these dealers and makes no representations or warranties regarding the dealers, their inventory, related products or services. All vehicle and related product information included on this site is provided by the dealer, who is solely responsible for the content, representations about itself and the vehicle, including pricing, services and promotional statements. Illuminus Bank does not endorse third-party products, services or other vehicle content. Any questions about the vehicle, pricing or related products should be directed to the dealer. The dealer will work with you to finalize financing terms.

The dealer may request your permission to obtain information from one or more credit reporting agencies. The dealer will ask for your photo identification (driver’s license) and/or other identifying documents. Illuminus Bank reserves the right to withdraw an approval if your identity cannot be verified or if there have been changes in your credit status as of the date of sale.

Offers are subject to credit approval. Rates are subject to change. Additional restrictions may apply. Member FDIC.