What does it take these days to get a 150k boat loan ? Are the banks freeing up yet?

Good debt to income ratio after the loan

Financed amount to be at or below current market value

Good to exceptional credit

Real proof of income, IRS 4056t if self employed

Boat must meet bank requirements for model year, they vary from 5 years old to 12 years old for performance boats.

Start with smaller local banks and CU that you have relationships with. If you have Key banks in your state they are great for performance and should be your first choice if you are forced to use a larger bank.

The last resort is usually large marine finance companies. They seem to have to most rules and stipulations for performance boats today. Ie; huge down payments, net worth cash equalling boat cost, etc

Good luck

^^ plus...


20-30% down; AND you have to have liquidity after that down payment. You can't drain your savings account for such.
Reason: The bank wants to know you can maintain the boat.
If they have to repo it, they want to know that you can afford to maintain it; that they are not on their way as soon as you blow an engine.