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Buying a boat should be a breeze.

Adventure, relaxation and much-deserved getaways await you with a new boat. We know you’ve been dreaming of owning one. When the time comes to purchase or refinance, let us be there to help make it as simple and as affordable as possible. A SunTrust marine loan offers competitive rates and flexible repayment terms. Plus, SunTrust is a member of the National Marine Lenders Association, and our Marine Loan Specialists have the knowledge and experience to help you navigate the loan process.

  • Competitive interest rates
  • Flexible repayment terms
  • Save with our documenting service1
  • Potential for tax deductible interest2
  • What can you use this loan for?
  • Boat Size
  • Loan Amount
  • Interest Rate
  • Loan Term (months)
  • How to Apply
  • Fees
  • Unsecured vs. Secured
  • Features
  • Requirements
  • Conditions
  • This marine loan can help you refinance or purchase a large boat secured by the boat's title or mortgage.
  • 25' in length or greater
  • Purchase: $25,000 to $4,000,000
    Refinance: $54,601 to $4,000,000
  • Fixed rates from 4.75% APR to 7.37% APR3

    Variable rates from 3.75% APR to 4.87% APR3

    Check Marine Loan Rates
  • Terms up to 240 months4
  • Apply online or in a branch, or download and print an application to mail, fax or drop off at one of our two Marine Lending office locations.
  • No points, service charges or processing fees
  • Secured by the title to the boat or by the Ship's Mortgage.
  • Save with our Services: The boat owner is responsible for paying the required U.S. Coast Guard documentation fee and Ship's Mortgage lien recording fee. SunTrust can record these documents for you at no additional cost, while other lenders may charge a fee for these services.1
    Tax-Time Savings: Potential for tax deductible interest2
  • Minimum Down Payments
    • 15% for standard vessels and loan amounts up to $500,0004
    • 20% for multi-hulls and loan amounts $500,001-$2,500,000
    • 25% for houseboats and loan amounts $2,500,001-$4,000,000
    Marine survey required for purchase of a used boat
    U.S. Coast Guard documentation is required for a qualifying boat
  • Fiberglass and aluminum hulls only, 25' in length or greater, less than 20-year-old models, (less than 15 years for multi-hulls and less than 10 years for houseboats).
    Recreational use only.
    Not available for high performance boats (60+ mph), commercial vessels, floating homes, barge or dredge boats, or personal watercraft (PWC).
    Warranties or sales tax cannot be financed.
    Not available in Hawaii or Vermont.

Apply in 4 easy steps.

  • Step 1

    Apply Online

    Apply in less than 15 minutes.

  • Step 2

    Application Review

    A SunTrust representative will review your application and contact you within 24 business hours for additional information and required documentation needed to evaluate your application.

  • Step 3

    Loan Decision & Processing

    Upon approval, a SunTrust representative will contact you to review loan terms and will request from you any final required documents, such as sales contract & survey.

  • Step 4

    Final Decision & Loan Closing

    You review the final approved loan terms provided by SunTrust and arrange a date to sign the loan documents.

Important Information About These Products

1 U.S. Coast Guard documentation fees and ship’s mortgage lien recording fees vary based on details of the transaction. Documentation service companies may charge an average of $400–$600 for these services. SunTrust can document your boat and record the lien at no additional service charge.

2 Consult a tax advisor regarding deductibility of interest.

3 Your actual rate may vary based on a number of factors, including loan term. Variable rates available for loan amounts of $100,000 or more. Available rates may change without notice. Property insurance required. Loan approval and final terms are subject to a review of your credit history, income and other factors. Rates effective 12/1/2017.

4 Payment example: Financed loan amount of $75,000 after a down payment of 15% with a 20-year term at a rate of 4.75% Annual Percentage Rate (APR) would result in 240 monthly payments of $484.66.

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